Refined palmolein jumps on strong demand

Refined palmolein jumped at the oils and oilseeds Vashi wholesale market here today on strong retail demand amid ensuing festivities.
Groundnut oil remained stable in the absence of any large-scale buying.
In the non-edible section, castorseeds bold and castoroil commercial fell owing to reduced demand from shippers and soap industries.
Linseed oil gained further on sustained demand from paint and allied industries.
In the futures market, castorseeds for September firmed up further on speculative offtake on the back of steady export enquiries.
In the edible segment, Refined palmolein hardened by Rs 30 per 10kg to Rs 620 from Tuesday's closing level of Rs 590. However,groundnutoil were unaltered at Rs 850 per 10kg.

Turning to non-edible segment, Castorseeds bold declined by Rs 75 per 100kg to Rs 3,725 from Rs 3,800 and castoroil commercial eased by Rs 15 per 10kg to Rs 775 from Rs 790. However, linseeds oil went-up by Rs 5 per 10kg to Rs 750 as compared to Rs 745 previously.
Moving to futures, castorseed for September contract resumed higher at Rs 3,800 and advanced to Rs 3,830 before closing at Rs 3,810 from Rs 3,783 previously, showing a gain of Rs 27 per tonne.