Refined palmolein rises on global cues

Refined palmolein rose at the oils and oilseeds Vashi Wholesale market here today on good retail demand on the back of bullish Malaysian cues.
Groundnut oil prices eased due to stockist selling after three days surge amidst reduced stockist offtake.
Castorseeds bold and castoroil commercial moved down marginally in a lacklustre activity following lower demand from shippers and soap manufacturers.
In futures, castorseeds for September contract recovered smartly on good speculative offtake owing to higher export enquiries.
In the edible segment, refined palmolein climbed by Rs 5 per 10 kg to Rs 535 from Friday's closing level of Rs 530. Groundnut oil declined by Rs 5 per 10 kg to Rs 975 from Rs 980.

Moving to non-edible section, castorseeds bold slipped by Rs 5 per 100 kg to Rs 3,500 from overnight close of Rs 3,505 and castor oil commercial softened by a rupee per 10 kg to Rs 730. Linseeds oil maintained its stable trend at Rs 730 per 10 kg.
Turning to futures, castorseeds September contract resumed slightly higher at Rs 3,740 and gained further to close at Rs 3,787 from Rs 3,737 previously, showing a gain of Rs 50 per tonne.