Refined palmolein firms up on good demand

Refined palmolein prices firmed up further in an otherwise firm oils and oilseeds market here today due to good stockists buying coupled with bullish Malaysian advices.

While, groundnut oil maintained a stable trend in the absence of market moving factors.

Castorseed bold, castoroil commercial and linseed also held steady owing to any worthwhile buying activity.

Castorseeds futures continued to move up on rising export demand.

In the edible-oil section, refined palmolein rose by Rs 6 per 10 kg to Rs 590 from overnight closing level of Rs 584.

Groundnut oil ended stable at Rs 770 per 10 kg.

Turning to futures section, castorseeds for March delivery resumed lower at Rs 4,130 but later, it surged to Rs 4,200 before finishing at Rs 4,184 as against Rs 4,160 yesterday, showing a further rise of Rs 24 per tonne.

However, castorseed bold, castoroil commercial and linseed oil all were unaltered at Rs 5,300, Rs 1,090 and Rs 710, respectively.