Industrial oils recover in lacklustre trade

Castorseeds bold and castor oil commercial recovered smartly in an otherwise lacklustre oils and oilseeds market here today on renewed offtake from shippers and soap industries.
In the futures market, castorseeds rebounded on sustained speculative demand following higher export enquiries.
In the edible section, refined palmolein declined due to lack of retail buying support amidst bearish Malaysian cues.
While groundnut oil and linseed oil held stable due to lack of any major buying.
In the non-edible section, castorseeds bold climbed by Rs 35 per 100 kg to Rs 3,575 from Monday's closing level of Rs 3,540 and castor oil commercial also moved-up by Rs 5 per 10 kg to Rs 745 from Rs 738. However, linseedoil closed unchanged at Rs 875 per 10 kg.

Moving to edible section, Refined palmolein went down by Rs 3 per 10 kg to Rs 512 as against Rs 515 yesterday. Groundnut oil closed unaltered at Rs 1,240 per 10kg.
Turning to futures, castorseed March contract resumed higher at Rs 3,665 and later moved up further to Rs 3,717 before finishing at Rs 3,712 from Rs 3,659 yesterday, showing a net gain of Rs 53 per tonne.