Refined palmolein recovers on global cues

Refined palmolein prices recovered smartly at the Vashi oils and oilseeds Wholesale market here today on fresh retail buying support on the back of higher Malaysian cues.
At the Malaysia Derivatives Exchange, palm oil gained USD 691 a tonne.
While, groundnut oil ruled stable in the absence of any worthwhile buying.
In the non-edible segment, Castorseed bold and castor oil commercial also rebounded on renewed offtake from shippers and soap manufacturers.
Linseed oil regain owing to improved demand from paint and allied industries.
In futures trade, castorseeds September contract rose on fresh speculative buying following higher export enquiries.

In the edible segment, Refined palmolein climbed by Rs 9 per 10 kg to Rs 522 from Tuesday's closing level of Rs 513. However, groundnut oil closed unchanged at Rs 970 per 10 kg.

Turning to non-edible section, castorseeds bold spurted by Rs 65 per 100 kg to Rs 3,435 from Rs 3,370, castor oil commercial shot-up by Rs 13 per 10 kg to Rs 717 from Rs 704 and Linseed oil moved up by Rs 5 per 10 kg to Rs 730 as against Rs 725 yesterday.
Moving to futures, castorseeds September contract resumed higher at Rs 3,370 and advanced further to finish at Rs 3,440 from Rs 3,342 yesterday, showing a rise of Rs 98 per tonne.