Modest recovery in industrial oils

Castorseeds bold and castor oil commercials recovered modestly at the oils and oilseeds market here today due to fresh demand from shippers and soap industries.

On the other hand, castorseeds futures dropped on subdued export enquiries. In the edible segment, refined palmolein eased on ample supply positions amidst bearish Malaysian cues.

Groundnut oil and linseed oil closed stable in the absence of market moving factors.

In the non-edible section, castorseed bold rose by Rs 25 per 100 kg to Rs 5,075 from Tuesday's closing level of Rs 5,050 and castor oil commercial added Rs 5 per 10 kg to Rs 1,045 as compared to Rs 1,040 previously.

Linseed oil closed unchanged at Rs 655 per 10 kg.

Turning to futures section, castorseeds for June delivery resumed higher at Rs 4,830, but fell to Rs 4,730 before settling to close at Rs 4,754 as against Rs 4,817 in the previous session, showing a fall of Rs 63 per tonne.

Moving to edible oil section, refined palmolein moved down by Rs 3 per 10 kg to Rs 577 from overnight closing level of Rs 580. Groundnut oil closed steady at Rs 840 per 10 kg.