Refined palmolein surges on sustained demand

Refined palmolein prices surged further at the Vashi oils and oilseeds Wholesale market here today on sustained retail demand amidst higher Malaysian cues on the back of ensuing festivities.
Meanwhile, groundnutoil ruled stable in the absence of any major buying.
In the non-edible segment, castorseeds bold and castor oil commercial climbed on consistent demand from shippers and soap manufacturers.
Linseed also gained further following persistent demand from paint and allied industries.
In futures market, castorseeds December contract recovered modestly following renewed export enquiries.
In the edible segment, Refined palmolein rose by Rs 3 per 10kg to 593 from Wednesday's closing level of Rs 590. However, groundnutoil closed unchanged at Rs 850 per kg.

Moving to non-edibles, castorseeds bold climbed by Rs 25 per 100kg to Rs 3,500 from Rs 3,475, castoroil commercial moved-up by Rs 5 per 10kg to Rs 730 from Rs 725 and Linseed oil shot-up by Rs 10 Rs 790 as against Rs 780 previously.
Turning to futures, castorseeds December contract resumed higher at Rs 3,740 and moved up further to Rs 3,765 before settling at Rs 3,757 from Rs 3,728 previously, showing gain of Rs 29 per tonne.