Industrial oils climbs on rising demand

Linseed oils prices shot up in a fairly active oils and oilseeds market here today due to good demand paint and allied industries. Castorseeds bold and castorseed commercials also moved up on renewed demand from shippers and soap industries.  

Meanwhile, castorseeds futures slipped on subdued export enquiries.

In edible segment, refined palmolein eased on poor retail offtake amidst lower Malaysian advices, while groundnut oil held stable in the absence of buying support.  

In the non-edible segment, linseed oil surged by Rs 25 per 10 kg to Rs 725 from yesterday's closing level of Rs 700.

Castorseeds bold went up by Rs 25 per 100 kg to Rs 5,125 from Tuesday's closing level of Rs 5,100 and castorseeds commercial gained by Rs 5 per 10 kg to Rs 1,055 as compared to Rs 1,050 previously.

Turning to futures section, castorseeds for June delivery resumed higher at Rs 4,780 and traded between Rs 4,795 and Rs 4,735 before settling at Rs 4,750 from Rs 4,766 previously, showing a modest loss of Rs 16 per tonne.

Moving to edible section, refined palmolein edged down by Rs 2 per 10 kg to Rs 575 from overnight closing level of Rs 577, while groundnut oil closed unchanged at Rs 860 per 10 kg.