Refined palmolein gains on consistent demand

Refined palmolein prices gained further in an otherwise lacklustre oils and oilseeds wholesale market here today on consistent retail demand.
Linseed oil recovered following renewed demand from paint and allied industries.
Meanwhile, groundnut oil, castorseeds bold and castor oil commercial prices ruled stable in the absence of any major worthwhile buying.
In futures market,castorseeds December contract slipped owing to speculative selling amid reduced export inquiries.
In the edible segment, refined palmolein moved-up by Rs 2 per 10kg to Rs 562 from Monday's closing level of Rs 560. However, groundnutoil closed unchanged at Rs 900 per 10kg.
Moving to non-edible section, Linseedoil climbed by Rs 5 per 10kg to Rs 750 as against Rs 745 previously. Castorseeds bold and castoroil commercial closed unaltered at Rs 3,500 per 100kg and Rs 730 per 10kg respectively.

Turning to futures, castorseeds December contract opened lower at Rs 3,870 and drifted further to Rs 3,832 before closing at Rs 3,842 from Rs 3,885 yesterday, showing a loss of Rs 43 per tonne.