Palmolein oil edges up on retailers demand

NEW DELHI: Palmolein oil prices firmed up by Rs 50 per quintal in an otherwise steady wholesale oil and oilseed market today on pick up in demand from retailers.

Castor oil in the non-edible section, also moved up on increased offtake by consuming industries.

Traders said mild demand from retailers mainly led to rise in palmolein oil prices.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils were up by Rs 50 each to Rs 5,300 and Rs 5,200 per quintal respectively. Crude palm oil (ex-kandla) oil also traded higher by a similar margin to Rs 4,150 per quintal.

Among non-edibles, castor oil edged up Rs 50 to Rs 9,850 -9,950 per quintal on increased demand from consuming industries.