Refined palmoil advance on steady demand

While, groundnut oil eased due to reduced offtake from stockists and retailers amidst ample supply positions.

Castorseeds bold and castoroil commercial also moved down owing to lower demand from shippers and soap industries.

In futures market, castorseeds prices recovered following speculative offtake amidst good export enquiries.

In the edible section, Refined palmolein edged up by Rs 2 per 10 kg to Rs 607 from Friday's closing level of Rs 605. Groundnut oil went down by Rs 5 per 10 kg to Rs 1,185 from Rs 1,190. Linseedoil closed unchanged at Rs 705 per 10 kg.

Turning to non-edible section, castorseeds bold slipped by Rs 25 per 100 kg to Rs 3,275 from Rs 3,300 and castoroil commercial slid by Rs 5 per 10 kg to Rs 685 from Rs 690 yesterday.

In the futures section, castorseed for September contract resumed higher at Rs 3,505 and traded between Rs 3,520 and Rs 3,500 before ending at Rs 3,511 from Rs 3,480 previously, showing a gain of Rs 31 per tonne.