Mild recovery in refined palmolein prices

Refined palmolein recovered mildly at the oils and oilseeds market here today due to better retail demand, amid a firming trend in Malaysia.

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

Castorseed bold and castoroil commercial rallied further owing to sustained demand from shippers and soap industries. Castorseed futures also firmed up on good export orders.

In edible oil segment, refined palmolein moved up by Rs 2 per 10 kg to Rs 578 from overnight closing level of Rs 576.

Groundnut oil were unaltered at Rs 760 per 10 kg.

Turning to non-edible section, castorseed bold surged by Rs 65 per 100 kg to RS 4,690 from Wednesday's closing level of Rs 4,625 and castoroil commercial rose by Rs 13 per 10 kg to Rs 955 as against Rs 950 yesterday.

Linseed oil maintained the stable trend at Rs 700 per 10 kg.

Moving to futures section, castorseeds for March delivery resumed higher at Rs 3,880 and moved in a range of Rs 3,893 and Rs 3,872 before closing at Rs 3,882 per tonne as against Rs 3,865 yesterday, showing a gain of Rs 17 per tonne.