Industrial oils prices decline on weak demand

Castorseeds bold and castoroil commercial prices declined at oils and oilseeds market here today due to lack of demand from shippers and soap industries.
Linseeds oil firmed up further owing to sustained demand from paint and allied industries.
In the edible segment, refined palmolein slipped on subdued demand from stockists and retailers amidst bearish Malaysian cues. Groundnutoil held steady in the absence of any worthwhile buying.
In the futures market, castorseeds fell on heavy speculative selling following reduced export enquiries.
In the non-edible section, castorseeds bold moved down by Rs 35 per 100 kg to Rs 3,580 from Wednesday's closing level of Rs 3,615 and castoroil commercial also went down by Rs 7 per 10 kg to Rs 746 from Rs 753. However, linseedoil advanced by Rs 5 per 10 kg to Rs 790 from Rs 785.

Moving to edible section, Refined palmolein looked down by Rs 3 per 10 kg to Rs 512 as against Rs 515 previously. Groundnut oil closed unchanged at Rs 1,220 per 10 kg.
Turning to futures, castorseeds June contract resumed lower at Rs 3,840 and moved in a range of Rs 3,863 and Rs 3,820 before finishing at Rs 3,845 from 3,925 previously, showing a net loss of Rs 80 per tonne.