Refined palmolein advances on rising demand

Refined palmolein prices advanced at the Vashi oils and oilseeds Wholesale market here today on rising demand from retailers amidst higher Malaysian cues.
Meanwhile, groundnut oil slipped on stockist selling amidst subdued demand from retailers.
In the non-edible segment, castorseed bold, castoroil commercial and linseed oil ruled steady in the absence of any largescale buying activity.
In futures trade, castorseeds September contract declined on speculative selling on the back of reduced export enquiries.
In the edible segment, refined palmolein went up by Rs 3 per 10kg to Rs 528 from Thursday's closing level of Rs 525. However, groundnut oil fell by Rs 10 per 10kg to Rs 970 as against Rs 980 yesterday.

Turning to futures, castorseeds September contract resumed slightly higher at Rs 3,505 and moved-up further to Rs 3,520 before ending at Rs 3,447 from Rs 3,502 yesterday, showing a loss of Rs 55 per tonne.
Moving to non-edible section, castorseeds bold, castor oil commercial and Linseed oil all held unchanged at Rs 3,475 per 100kg, Rs 725 per 10kg and Rs 730 per 10kg.