Refined palmolein prices strengthen on global cues

Refined palmolein prices strengthened further in an otherwise lacklustre oils and oilseeds wholesale market here today due to consistent retail demand on the back of bullish Malaysian cues.
While, groundnut oil, linseeds oil, castorseeds bold and castor oil commerical prices ruled steady in the absence of any large scale buying activity.
In futures market, castorseeds December contract recovered sharply on heavy speculative demand on the back of renewed export enquiries.
In the edible segment, refined palmolein climbed by Rs 3 per 10kg to Rs 563 from Wednesday's closing level of Rs 560. Groundnut oil closed unchanged at Rs 900 per 10kg.

Moving to futures, castorseeds December contract opened higher at Rs 3,750 and surged further to close at Rs 3,815 from Rs 3,705 on Tuesday, showing a smart rise of Rs 110 per tonne.
Turning to non-edible section, castorseeds bold, castoroil commercial and Linseed oil closed unaltered at Rs 3,515 per 100kg, Rs 733 and Rs 745 per 10kg respectively. Per 10kg.