Refined palmolein spurts on stockists, festive demand

Refined palmolein prices rose further at the oils and oilseeds market here today due to sustained buying from stockists and retailers coupled with good local demand in view of the festivities.

Elsewhere, castorseeds futures also moved up higher on the back fresh export order.

Meanwhile, groundnut oil, castorseeds bold, castoroil commercial and linseed oil closed at their weekend's level in the absence of worthwhile buying activity.

In edible segment, refined palmolein gained by Rs 9 per 10 kg to Rs 468 from last Saturday's closing level of Rs 459, while groundnut oil held steady at Rs 895 per 10 kg.

Turning to futures section, castorseed's October contract resumed higher at Rs 4,010 and firmed up further to Rs 4,035 before closing at Rs 4,026, as against Rs 4,008 last weekend, showing a gain of Rs 18 per tonne.

However, castorseeds bold, castoroil commercial and linseed oil were unaltered at Rs 4,225, Rs 875 and Rs 550, respectively.