Refined palmolein recovers on fresh demand

Mumbai, Feb 26 (PTI) Refined palmolein prices recoveredat the oils and oilseeds market here today on fresh buyingsupport from retailers and stockists.

Groundnut oil dipped due to lack of retail demand amidgood supplies from producing belts.

Castorseeds bold and castor oil commercial droppedsharply owing to heavy offloading by stockists coupled withsubdued industrial demand.

Castorseeds futures also slid on poor export enquiries.

Linseed oil, however, closed unchanged in the absence ofmarket moving factors.

In the edible oil segment, refined palmolein rose by Rs 8per 10 kg to Rs 577 from yesterday''s closing level of Rs 569.

On the other hand, groundnut oil eased by Rs 5 per 10 kgto Rs 750 from Rs 755 previously.

Meanwhile in the non-edible section, castorseeds boldslumped by Rs 225 per 100 kg to Rs 5,575 from Rs 5,800 andcastor oil commercial plunged by Rs 45 per 10 kg to Rs 1,145as compared to Rs 1,190 yesterday.

Moving to futures section, castorseeds for delivery inMarch resumed lower at Rs 5,180 and drifted further to closeat Rs 5,065 from Rs 5,215 previously, disclosing a steep fallof Rs 154 per tonne.