Refined palmolein firms up on rising demand

Refined palmolein firmed up at the oils and oilseeds market here today on rising demand from retailers.
Meanwhile, groundnut oil slipped further following reduced demand from stockist and retailers.
In the non-edible segment, Castorseeds bold and castor oil commercial climbed due to persistent demand from shippers and soap industries. Linseeds oil recovered on good demand from paint and allied industries.
In the futures market, castorseeds rose further on persistent demand following higher export enquiries.
In the edible section, Groundnut oil eased by Rs 5 per 10 kg to Rs 1,220 from Tuesday's closing level of Rs 1,225. However, refined palmolein moved up by Rs 4 per 10 kg to Rs 515 from Rs 511.

Moving to non-edible section, castorseeds bold gained by Rs 5 per 100 kg to Rs 3,615 from Rs 3,610, castoroil commercial inched up by a rupee per 10 kg to Rs 753 and linseed oil also looked-up by Rs 5 per 10 kg to Rs 785 as against Rs 780 yesterday.
Turning to futures, castorseeds June contract resumed higher at Rs 3,890 and later shot up to Rs 3,970, before finishing at Rs 3,925 from 3,876 previously, showing a smart gain of Rs 49 per tonne.