Refined palmolein spurts on heavy demand, global cues

Refined palmolein prices spurted at the Vashi oils and oilseeds wholesale market here today on heavy retail demand amidst higher Malaysian cues on the back of ensuing festivities.
Linseed also surged following consistent demand from paint and allied industries.
Meanwhile, groundnutoil, castorseeds bold and castor oil commercial ruled steady due to lack of any worthwhile buying activity.
In futures market, castorseeds December contract traded in narrow range and eased marginally owing to lower export enquiries.
In the edible segment, Refined palmolein shot-up by Rs 10 per 10kg to 590 from Tuesday's closing level of Rs 580. However, groundnutoil closed unchanged at Rs 850 per 10kg.

Moving to non-edibles, Linseeds oil climbed by Rs 10 Rs 780 as against Rs 770. Castorseeds bold and castoroil commercial closed unaltered at Rs 3,475 per 100kg and Rs 725 per 10kg respectively.
Turning to futures, castorseeds December contract resumed lower at Rs 3,722 and hovered between Rs 3,742 and Rs 3,720 before settling at Rs 3,728 from Rs 3,730 yesterday, showing mere loss of Rs 2 per tonne.