Refined palmolein firms up on sustained demand

MUMBAI: Refined palmolein firmed-up at the oils and oilseeds Vashi Wholesale market here today on sustained retail demand.

Groundnut oil and linseed oil prices ruled stable in the absence of any worthwhile buying support.

Castorseeds bold and castoroil commercial recovered smartly following renewed demand from shippers and soap manufacturers.

In futures, castorseeds for September contract ended almost flat amidst volatile trade following lower export enquiries.

In the edible segment, refined palmolein shot-up by Rs 7 per 10 kg to Rs 542 from last Saturday's closing level of Rs 535. Groundnut oil closed unchanged at Rs 975 per 10 kg.

Moving to non-edible section, castorseeds bold climbed by Rs 50 per 100 kg to Rs 3,550 from last weekend's close of Rs 3,500 and castoroil commercial moved up by Rs 10 per 10 kg to Rs 740 as against Rs 730 previously. Linseeds oil closed unaltered at Rs 730 per 10 kg.

Turning to futures, castorseeds September contract resumed slightly higher at Rs 3,790 and shot up further to Rs 3,843 before settling at Rs 3,785 from Rs 3,787 last weekend, showing a marginal loss of Rs 2 per tonne.