Refined palmolein rises on good demand, global cues

Feb 18, 2013 |

mumbai

Refined palmolein prices rose at the oils and oilseeds market here today on good demand from stockists and retailers on the back of higher Malaysian advices.

Meanwhile, groundnut oil held stable in the absence of any worthwhile buying. Linseedoil also gained modestly owing to renewed demand from paint and allied industries, while castorseeds bold and castoroil commercial eased following reduced offtake from shippers and soap industries.

In the futures market, castorseeds prices also slipped on speculative selling following lower export enquiries. In the edible section, refined palmolein moved up by Rs 5 per 10 kg to Rs 511 from last Saturday’s closing level of Rs 506. Groundnutoil closed unchanged at Rs 1,235 per 10 kg.

Turning to non-edibles, linseedoil went-up by Rs 5 per 10 kg to Rs 860 as against Rs 855 previously. However, castorseeds bold declined by Rs 15 per 100 kg to Rs 3,525 from Rs 3,540 and castoroil commercial edged down by Rs 3 per 10 kg to Rs 735 from Rs 735 last weekend.

Turning to futures, castorseed March contract resumed lower at Rs 3,675 and drifted to Rs 3,666 before ending at Rs 3,673 from Rs 3,685 previously, showing modest loss of Rs 12 per tonne.

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