Refined palmolein spurts on global cues

Refined palmolein prices spurted in an otherwise lacklustre oil and oilseeds market here today on heavy demand from retailers amidst higher Malaysian cues.
Meanwhile, groundnutoil, linseed oil, castorseeds bold and castor oil commercial all held steady in the absence of any large scale buying activity.
In the futures, castorseeds for September delivery dropped due to steady speculative selling amid lower export enquiries.
In the edible section, refined palmolein shot-up by Rs 10 per 10kg to Rs 550 from Monday's closing level of Rs 540. Groundnut oil closed unchanged at Rs 990 per 10kg.
Turning to futures, castorseed for September contract opened higher at Rs 3,650, but later fell to close at Rs 3,570, from Rs 3,630 yesterday, showing a net loss of Rs 60 per tonne.

Moving to non-edible section, castorseeds bold, castor oil commercial and linseeds oil all closed unaltered at Rs 3,515 per 100kg, Rs 733 per 10 kg and Rs 735 per 10kg, respectively.