Refined palmolein gains on rising demand

Refined palmolein prices gained at the oils and oilseeds Vashi wholesale market here today on rising retail demand.
Meanwhile, groundnut oil prices ruled stable in the absence of any worthwhile buying.
In the non-edible section, castorseeds bold and castor oil surged on heavy demand from shippers and soap manufacturers.
Linseed oil climbed further on better demand from paint and allied industries.
In the futures market, castorseeds for September climbed further on heavy speculative demand following higher export enquiries.
In the edible segment, Refined palmolein moved up by Rs 4 per 10kg to Rs 600 from Monday's closing level of Rs 596. However, groundnut oil ruled unchanged at Rs 860 per 10 kg.

Turning to non-edible segment,Castorseeds bold shot-up by Rs 125 per 100kg to Rs 3,725 from Rs 3,600 and castoroil commercial also went-up by Rs 25 per 10kg to Rs 775 from Rs 750. Linseeds oil gained by Rs 5 per 10kg to Rs 760 as against Rs 755 previously.
Moving to futures, castorseed for September contract resumed higher at Rs 3,790 and advanced further to close at Rs 3,882 from Rs 3,778 previously, showing a net gain of Rs 104 per tonne.