Refined palmolein edges up on retail offtake

Refined palmolein prices recovered modestly at the Vashi oils and oilseeds wholesale market here today on good retail offtake amid ensuing festival season.
Meanwhile, groundnut oil maintained a stable trend in the absence of any major buying.
In the non-edible segment, castorseeds bold and castor oil commercial moved up due to steady demand from shippers and soap manufacturers.
Linseed also surged owing rising demand from paint and allied industries.
In futures market, castorseeds December contract rose following consistent speculative demand amid higher export enquiries.
In the edible segment, Refined palmolein went-up by Rs 2 per 10 kg to 578 from last Saturday's closing level of Rs 576. Groundnutoil ended unaltered at Rs 860 per 10 kg.

Moving to non-edibles, castorseeds bold gained by Rs 5 per 100 kg to Rs 3,460 from Rs 3,455 and castoroil commercial added by a Rupee per 10 kg to Rs 722.
Linseeds oil spurted by Rs 10 Rs 760 from previous closing level of Rs 750.
Turning to futures, castorseeds December contract resumed higher at Rs 3,750 and hovered between Rs 3,756 and Rs 3,700 before settling at Rs 3,735 from last weekend level of Rs 3,690, showing gain of Rs 45 per tonne.