Refined palmolein firms up on heavy demand, global cues

Refined palmolein firmed up further at the oils and oilseeds Vashi wholesale market here today on heavy demand from retailers amidst bullish Malaysian cues.
Groundnut oil ruled stable in the absence of any worthwhile buying.
In the non-edible section, castorseeds bold and castoroil commercial also shot-up owing to consistent demand from shippers and soap manufacturers.
Linseed oil rose on good demand from paint and allied industries.
In the futures market, castorseeds for September moved up further on sustained speculative offtake amidst rising export enquiries.
In the edible segment, Refined palmolein strengthened by Rs 10 per 10kg to Rs 590 from Monday's closing level of Rs 580. However,groundnutoil closed unchanged at Rs 850 per 10kg.

Turning to non-edible segment, Castorseeds bold surged by Rs 175 per 100kg to Rs 3,800 from Rs 3,575 and castoroil commercial also climbed by Rs 35 per 10kg to Rs 790 from Rs 755 and Linseeds oil added by Rs 5 per 10kg to Rs 745 as against Rs 740 yesterday.
Moving to futures, castorseed for September contract resumed lower at Rs 3,750, but later rebounded to Rs 3,790 before settling at Rs 3,783 from Rs 3,764 yesterday, showing a gain of Rs 19 per tonne.