Industrial oils advance on good demand

Castorseeds bold and castor oil commercial prices advanced at oils and oilseeds market here today on good demand from shippers and soap industries.
Meanwhile, linseeds oil declined further in the absence of demand from paint and allied industries.
In the edible segment, groundnut oil also fell on subdued demand from stockists and retailers. Refined palmolein held steady in the absence of any worthwhile buying.
In the futures market, castorseeds firmed up sustained speculative demand following higher export enquiries.
In the non-edible section, castorseeds bold spurted by Rs 35 per 100 kg to Rs 3,610 from Monday's closing level of Rs 3,575 and castoroil commercial also moved up by Rs 7 per 10 kg to Rs 752 from Rs 745. However, linseedoil eased by Rs 5 per 10 kg to Rs 780 from Rs 785.

Moving to edible section, Groundnut oil slipped by Rs 5 per 10 kg to Rs 1,225 as against Rs 1,230 yesterday. Refined palmolein closed unchanged at Rs 511 per 10 kg.
Turning to futures, castorseeds June contract resumed slightly lower at Rs 3,820, but later shot up to Rs 3,886 before closing at Rs 3,876 from 3,822 previously, showing a gain of Rs 54 per tonne.