Edible oils climb on consistent demand

Refined palmolein also strengthened on rising retail demand amidst higher Malaysian cues.

In the non-edible section, castorseeds bold and castor oil commercial rose owing to good demand from shippers and soap industries.

Linseed oil ruled stable in the absence of any worthwhile buying.

In futures, castorseeds firmed up further on hectic speculative demand on the back of higher export enquiries.

In the edible segment, Groundnut oil spurted by Rs 30 per 10 kg to Rs 1,150 from Tuesday's closing level of Rs 1,120. Refined palmolein also gained by Rs 5 per 10kg to Rs 520 from Rs 515.

Turning to non-edible segment, Castorseeds bold moved up by Rs 50 per 100 kg to Rs 3,475 from Rs 3,425 and castor oil commercial went up by Rs 10 per 10 kg to Rs 725 as against Rs 715 previously. Linseed closed unchanged at Rs Rs 775 per 10 kg.

Moving to futures, castorseed December contract resumed higher at Rs 3,850 and advanced further to Rs 3,910 before settling at Rs 3,895 as compared to Rs 3,825 yesterday, showing a net gain of Rs 70 per tonne.