Refined palmolein edges up on mild demand

Written by: Pti
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Mumbai, Feb 21 (PTI) Refined palmolein prices moved upslightly at the oils and oilseeds market here today on freshretail buying coupled with firm Malaysian cues.

Groundnut oil, the other edible oil however continued totrade steady in the absence of necessary buying support.

Meanwhile, castorseeds bold and castoroil commercialdeclined due to reduced demand from industrial users.

On the other hand, castorseeds futures rebounded sharplyon the back of aggressive buying by traders and speculators.

Linseed oil closed unchanged owing to lack of buyingsupport.

In the edible-oil segment, refined palmolein inched up toRs 588 per 10kgs from last Saturday''s closing level of Rs 587.

Groundnut oil closed unaltered at Rs 755 per 10kgs.

Turning non-edible section, castorseeds bold slipped byRs 25 per 100kgs to Rs 5,725 from Rs 5,750 and castoroilcommercial fell by Rs 5 per 10kgs to Rs 1,175 as compared toRs 1,180 previously. Linseed oil held steady at Rs 685 per10kgs.

Moving to futures section, castorseeds for March deliveryresumed higher at Rs 5,225 and rose further to end at Rs 5,315from last weekend''s closing level of Rs 5,195, disclosing asmart gain of Rs 120 per tonne.

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