Refined palmolein firms up on fresh demand

Refined palmolein prices firmed up at the oils and oilseeds market here today due to fresh buying support from retailers and stockists.
     
Castorseeds bold and castor oil commercial dropped due to lack of enquiries from shippers and soap manufacturers.
     
Castorseeds futures also declined on lower export orders amid bearish spot market.
     
Meanwhile, groundnut oil and linseed oil both closed unchanged in the absence of market moving factors.
     
In the edible oil section, refined palmolein rose by Rs7 per 10 kg to Rs575 from yesterday's closing level of Rs568.
     
Groundnut oil, however, closed unaltered at Rs840 per 10 kgs.
     
Turning to the non-edible section, castorseed bold fell by Rs45 per 100 kg to Rs5,150 from overnight closing level of Rs5,195.
     
Likewise, castoroil commercial drifted lower by Rs9 per 10 kg to Rs1,060 as against Rs1,069 yesterday. Linseed oil closed unchanged at Rs650 per 10 kgs.
     
Moving to futures section, castorseeds for June delivery resumed lower at Rs4,918 and dropped further to Rs4,880 before ending at Rs4,897 as compared to Rs4,946 previously, showing a loss of Rs49 per tonne.