Refined palmolein spurts on heavy demand

Mumbai: Refined palmolein prices spurted at the oils and oilseeds market here today on heavy demand from retailers.

Groundnut oil and linseeds oil prices ruled stable in the absence of any worthwhile buying.

In the non-edible segment, castorseeds bold and castor oil commercial moved down further owing to lack of demand from shippers and soap industries.

In futures, castorseeds futures remained bearish on lower speculative demand amid weak export enquiries.

In the edible section, Refined palmolein shot-up by Rs 7 per 10 kg to Rs 507 from Wednesday's closing level of Rs 500.

Groundnut oil closed unchanged at Rs 1,290 per 10kg.

Moving to non-edible segment,Castorseeds bold declined by Rs 25 per 100kg to Rs 3,500 from Rs 3,525 and castoroil commercial went down by Rs 5 per 10kg to Rs 730 as against Rs 735 previously. Linseedoil closed unaltered at Rs 810 per 10kg.

Turning to futures, castorseed March contract resumed lower at Rs 3,845 and moved in a range of Rs 3,860 and Rs 3,820 before ending at Rs 3,851 from Wednesday's closing level of Rs 3,963, a marginally fall of Rs 12 per tonne.