Refined palmolein recovers on fresh demand, global cues

Refined palmolein prices recovered at the oils and oilseeds wholesale market here today on renewed demand from retailers amidst higher Malaysian cues.
Groundnut oil prices held stable in the absence of any worthwhile buying.
In the non-edible section, castorseeds bold and castor oil declined following lack of demand from shippers and soap industries.
In futures market, castorseeds December contract gained marginally on speculative demand amid good export enquiries.
In the edible segment, refined palmolein climbed by Rs 3 per 10kg to Rs 555 from last Saturday's closing level of Rs 552. However, groundnut oil closed unchanged at Rs 870 per 10kg.

Moving to non-edible section, castorseeds bold shed by Rs 25 per 100kg to Rs 3,465 from Rs 3,490, castor oil commercial moved down by Rs 5 per 10kg to Rs 723 as compared Rs 728 previously. Linseed oil remained unaltered at Rs 745 per 10kg.
Turning to futures, castorseeds December contract opened slightly lower at Rs 3,715 and hovered between Rs 3,730 and Rs 3,700 before settling at Rs 3,722 from Rs 3,718 last weekend, showing a mild gain of Rs 4 per tonne.