Refined palmolein rise on global cues

Refined palmolein prices maintained its uptrend at the oils and oilseeds market here today on rising retail demand amid bullish Malaysian cues.
Meanwhile, groundnut oil and linseedoil ruled stable due to lack of any major buying.
In the non-edible segment, castorseeds bold and castor oil commercial moved up further on good demand from shippers and soap industries.
In the futures market, castorseeds firmed up owing to sustained speculative demand following higher export enquiries.
In the edible section, refined palmolein gained by Rs 3 per 10 kg to Rs 510 from Friday's closing level of Rs 507. Groundnut oil ended unaltered at Rs 1,200 per 10 kg.

Moving to non-edible section, Castorseeds bold climbed by Rs 15 per 100 kg to Rs 3,615 from Rs 3,600 and castoroil commercial also added by Rs 3 per 10 kg to Rs 753 as compared to Rs 750 yesterday. Linseed oil closed unchanged at Rs 815 per 10 kg.
Turning to futures, castorseeds June contract resumed higher at Rs 3,930 and surged further to Rs 3,955 before settling at Rs 3,945 showing a rise of Rs 52 per tonne.