Refined palmolein prices spurted at the Vashi oils and oilseeds wholesale market here today after Centre raised import duty to 40 per cent from 20 percent in a bid to curb cheaper shipments and boost local prices.
While, groundnut oil and linseed oil prices ended stable in the absence of any worthwhile buying support.
In non-edible segment, castorseeds bold and castor oil commercial gained further owing to sustained demand from soap and shippers industries.
In edible section, refined palmolein jumped by Rs 44 per 10kg to Rs 642 from Friday’s closing level of Rs 598, However, groundnut oil closed unaltered at Rs 870 per 10kg.
Moving to non-edible section, castorseeds bold climbed by Rs 25 per 100kg to Rs 4,485 against Rs 4,460 yesterday and castoroil commercial moved up by Rs 5 per 10kg to Rs 927 compared to Rs 922 previously. Linseeds oil closed unchanged at Rs 750 per 10 kg.