Refined palmolein moves up on good buying

Mumbai, Jan 18 (PTI) Refined palmolein prices moved upfurther at the oils and oilseeds market here today due tobetter retail demand.

Meanwhile, groundnut oil declined on adequate supply.

Castorseed bold and castoroil commercial rallied on theback of consistent demand from shippers and soap industries.

Castorseeds futures markets also surged owing to higherspeculative offtake amidst sustained export orders.

In the edible-oil section, refined palmolein edged up byRs 2 per 10 kgs to Rs 580 from overnight closing level of Rs578. However, groundnut oil fell by Rs 5 per 10 kg to Rs 760from Rs 765 previously.

Turning to non-edible section, castorseeds bold jumpedby Rs 75 per 100 kgs to Rs 4,925 from Rs 4,850 and castoroilcommercial spurted by Rs 15 to Rs 1,015 per 10 kgs from Rs1,000 yesterday.

Linseed oil ruled steady at Rs 700 per 10kgs.

Moving to futures section, castorseeds for March deliveryresumed higher at Rs 3,885 and moved in a wide range of Rs3,965 and Rs 3,871 before settling to end at Rs 3,955 ascompared to Rs 3,860 in the previous session, disclosing asharp rise of Rs 95 per tonne.