Industrial oils ease on lower offtake

Castorseeds bold and castoroil commercial eased in an otherwise dull oils and oilseeds Vashi wholesale market here today on subdued offtake from shippers and soap industries.
Linseedoil also moved down owing to poor demand from paint and allied industries.
Meanwhile, groundnut oil and refined palmolein held steady due to lack of any worthwhile buying activity.
In the futures market, castorseeds slipped on speculative selling pressure amid lower export enquiries.
In the non-edible section, castorseeds bold declined by Rs 25 per 100 kg to Rs 3,500 from Tuesday's closing level of Rs 3,525 and castorseeds commercial went down by Rs 5 per kg to Rs 730 from Rs 735.

Linseedoil also slid by Rs 5 per 10 kg to Rs 755 as against Rs 760 previously. However,
Moving to futures, castorseeds June contract resumed lower at Rs 3,600 and later hovered between Rs 3,612 and Rs 3,584 before settling at Rs 3,592 from Rs 3,623 previously, showing a loss of Rs 31 per tonne.
However, turning to edible segment, both groundnut oil and refined palmolein closed unchanged at Rs 1,210 and Rs 508 per 10 kg, respectively.