Refined palmolein spurts on heavy demand

Refined palmolein prices spurted at the oils and oilseeds wholesale market at Vashi here today on heavy demand from retailers on higher Malayasian cues.
Groundnut oil also rose on fresh demand from stockist and retailers amidst good export offtake.
In the non-edible section, castorseed bold and castor oil commercial gained on good demand from shippers and soap manufacturers.
Linseed oil maintained a stable trend in the absence of any major buying activity.
In the futures market,castorseeds firmed up on sustained speculative demand following higher export inquiries.
In the edible section, Groundnut oil edged-up by Rs 5 per 10kg to Rs 1,135 from Friday's closing level of Rs 1,130 and refined palmolein advanced by Rs 6 per 10kg to Rs 508 from Rs 502.

Moving to non-edible section, castorseeds bold shot up by Rs 50 per 100kg to Rs 3,500 from Rs 3,450 and castoroil commercial moved up by Rs 10 per 10kg to Rs 730 as against Rs 720 yesterday. Linseeds oil closed unchanged at Rs 745.
Turning to futures, castorseed June contract resumed higher at Rs 3,510 and later move up further to Rs 3,510 before finished at Rs 3,549 from yesterday's level of Rs 3,489, showing a smart gain of Rs 60 per tonne.