Refined palmolein surges on steady demand

Refined palmolein prices surged further at the Vashi oils and oilseeds Wholesale market here today on steady demand from retailers amidst bullish Malaysian advices.
Groundnut oil and linseedoil held steady in the absence of any largescale buying.
In the non-edible segment, castorseed bold and castoroil commercial moved up on renewed demand from shippers and soap industries.
In futures trade, castorseeds September contract recovered moderately on speculative offtake following good export enquiries.
In the edible segment, refined palmolein rose by Rs 5 per 10kg to Rs 533 from Friday's closing level of Rs 528. Groundnut oil closed unchanged at Rs 970 per 10kg.

Turning to non-edible section, castorseed bold gained by Rs 25 per 100 kg to Rs 3,500 from overnight close of Rs 3,475 and castoroil commercial went up by Rs 5 per 10 kg to Rs 730 from Rs 725. Linseedoil were unaltered at Rs 730 per 10kg.
Moving to futures, castorseeds September contract resumed higher at Rs 3,475 and advanced further to Rs 3,505 before settling at Rs 3,480 from Rs 3,447 previously, showing a gain of Rs 33 per tonne.