Industrial oils edge higher on better offtake

Castorseed bold and castor oil commercial prices gained marginally in an otherwise lacklustre oils and oilseeds market here today due to better offtake from soap industries.

In futures market, castorseeds witnessed heavy swings on speculative demand, but settled steady in the end owing to subdued export enquiries. 

Meanwhile, groundnut oil, refined palmolein and linseed oil maintained a stable trend in the absence of market moving factors.

In the non-edible section, castorseeds bold moved up by Rs 5 per 100 kg to Rs 5,220 from Tuesday's closing level of Rs 5,215 and castor oil commercial inched up by a rupee to Rs 1,074 per 10 kg from Rs 1,073. Linseedoil remained unchanged at Rs 720 per 10 kg.

Turning to futures section, castorseeds for September delivery resumed lower at Rs 5,280, but later shot up to Rs 5,410 before closing at its overnight level of Rs 5,340 per tonne.

Moving to edible segment, both groundnut oil and refined palmolein were ended unaltered at Rs 970 and Rs 555 per 10 kg respectively.