Edible oils spurt on renewed demand

Refined palmolein also firmed up on better retail offtake coupled with higher Malaysian advices.

Meanwhile, castorseeds bold and castoroil commercial declined further owing to subdued demand from shippers and soap manufacturers.

Linseed oil maintained a stable trend in the absence of any market-moving factors.

In futures trade, castorseeds recovered on fresh speculative demand as well as good export enquiries.

In the edible-segment, Groundnut oil rose by Rs 15 per 10 kg to Rs 1,200 from last Saturday's closing level of Rs 1,185 and refined palmolein moved up Rs 4 per 10 kg to Rs 616 from Rs 612.

Turning to non-edible, castorseed bold slipped by Rs 25 per 100 kg to Rs 3,200 from Rs 3,225 and castoroil commercial slid by Rs 5 to Rs 670 from Rs 675 previously. Linseed oil ruled unchanged at Rs 730 per 10 kg.

Moving to futures, castorseeds for the September contract opened higher at Rs 3,355 and strengthened further to Rs 3,399 before ending at Rs 3,384, as compared to Rs 3,350 last weekend, showing a rise of Rs 34 per tonne.