Refined palmolein prices strengthen on rising demand

Refined palmolein prices posted fifth straight gain at the oils and oilseeds Vashi Wholesale Market here today due to rising retail demand.
While, groundnut oil and linseed oil ruled stable in the absence of any necessary buying support.
In the edible segment, castorseeds bold and castoroil commercial declined owing to lack of demand from shippers and soap manufacturers.
In the futures market, castorseeds June contract firmed up on good speculative offtake following rising export enquiries.
In the edible section, Refined palmolein shot-up by Rs 11 per 10 kg to Rs 535 from Monday's closing level of Rs 524. Groundnut oil closed unchanged at Rs 1,050 per 10 kg.

Turning to non-edible segment, Castorseeds bold fell by Rs 25 per 100 kg from Rs 3,550 from Rs 3,575 and castoroil commercial went down by Rs 5 per 10 kg to Rs 740 as against Rs 745. Linseeds all closed unaltered at Rs 735 per 10 kg.
Moving to futures, Castorseeds June contract resumed higher at Rs 3,650 and later advanced further to Rs 3,700 before finishing at Rs 3,640 from previous closing level of Rs 3,626, a net rise of Rs 14 per tonne.