Refined palmolein edges up on renewed demand

Refined palmolein recovered slightly in an otherwise sluggish oils and oilseeds Vashi wholesale market here today on renewed demand from retailers on the back of higher Malaysian cues.
Groundnut oil remained stable in the absence of any largescale buying.
Castorseed bold and castoroil commercial moved down further owing to to lack of demand from shippers and soap industries.
Linseedoil also maintained its downtrend due to weak demand from paint and allied industries.
In the futures market, castorseeds recovered on renewed speculative demand following modest export enquiries.
In the edible segment, refined palmolein gained Rs 2 per 10 kg to Rs 510 from Thursday's closing level of Rs 508. Groundnutoil closed unchanged at Rs 1,210 per 10 kg.

Turning to non-edible section, castorseeds bold eased by Rs 10 per 100 kg to Rs 3,490 from overnight close of Rs 3,500 and castorseeds commercial slipped by Rs 2 per kg to Rs 728 from Rs 730.
Linseedoil also declined by Rs 5 per 10 kg to Rs 750 as compared to Rs 755 previously.
Moving to futures, castorseeds June contract resumed higher at Rs 3,600 and moved in a range of Rs 3,620 and Rs 3,588 before closing at Rs 3,611 from Rs 3,592 previously, showing a gain of Rs 19 per tonne.