Refined palmolein gains on sustained demand

Refined palmolein prices gained further at the oils and oilseeds market here today on sustained demand from retailers on the back of higher Malaysian cues.
Meanwhile, groundnut oil maintained a steady trend in the absence of any worthwhile buying.
In the non-edible segment, Castorseeds bold and castor oil commercial recovered marginally due to better demand from shippers and soap manufacturers.
Linseeds oil continued its downtrend owing to subdued offtake from paint and allied industries.
In the futures market, castorseeds recovered modestly on speculative buying on the back of higher export enquiries.
In the edible section, refined palmolein climbed by Rs 2 per 10 kg to Rs 507 from Thursday's closing level of Rs 505. Groundnut oil closed unchanged at Rs 1,200 per 10 kg.

Moving to non-edible section, Castorseeds bold moved up by Rs 10 per 100 kg to Rs 3,600 from Rs 3,590 and castoroil commercial also edged-up by Rs 2 per 10 kg to Rs 750 as against Rs 748 previously. However, linseed oil dipped by Rs 5 per 10 kg to Rs 815 as compared to Rs 820 previously.
Turning to futures, castorseeds June contract resumed slightly higher at Rs 3,865 and rose to Rs 3,898 before closing at Rs 3,893 showing a gain of Rs 31 per tonne.