Refined palmolein firms up on rising demand

Mumbai: Refined palmolein firmed up at the Vashi oils and oilseeds wholesale market here today due to rising demand from retailers.

Groundnut oil ruled steady in the absence of any large-scale buying activity.

Castorseeds bold and castor oil commercial also gained on sustained offtake from shippers and soap industries.

However, linseed oil declined following lower offtake from paint and allied industries.

In edible section, refined palmolein rose by Rs 7 per 10 kg to Rs 605 from Tuesday’s closing level of Rs 598 and groundnutoil closed unchanged at Rs 1,120.

In the non-edible segment, castorseeds bold moved up by Rs 5 per 100 kg to Rs 3,135 from yesterday’s close of Rs 3,130 and castoroil commercial inched up by Re 1 per 10kg to Rs 657.

Linseed oil slipped by Rs 5 per 10kg to Rs 870 as against to Rs 875 yesterday.