Refined palmolein strengthens on sustained demand

Refined palmolein prices strengthened at the Vashi oils and oilseeds wholesale market here today on sustained retail demand on the back of bullish Malaysian cues.
In the global market, palmoil for April delivery rose 0.9 per cent to USD 779 a tonne at the Malaysia Derivatives Exchange.
Meanwhile, groundnut oil dropped on stockist selling amidst reduced demand from retailers following ample supplies.
In the non-edible section, castorseeds bold, castor oil commercial and linseed oil ruled stable in the absence of any worthwhile buying.
The castorseeds futures rate were unavailable.
In the edible segment, refined palmolein climbed by Rs 4 per 10 kg to Rs 583 from Thursday's closing level of Rs 579. However, groundnut oil fell by Rs 10 per 10 kg to Rs 750 as against Rs 760 previously.

Moving to non-edible section, castorseeds bold, castor oil commercial and Linseedoil all closed unchanged at Rs 3,900 per 100 kg, Rs 810 and Rs 840 per 10 kg.