Industrial oils recover on fresh demand

Groundnut oil continued its downtrend owing to subdued demand from stockists amidst ample supplies.

Meanwhile, refined palmolein and linseed oil held steady due to lack of worthwhile buying.

In futures, castorseeds futures moved up on mild speculative demand on the back higher export enquiries.

In the non-edible oil section, castorseeds bold rose by Rs 50 per 100kg to Rs 3,550 Tuesday's closing level Rs 3,500 and castoroil commercial gained by Rs 10 per 10kg to Rs 740 as compared to Rs 730 previously.

Moving to edible segment, groundnut oil fell by Rs 5 per 10 kg to Rs 1,275 from yesterday's closing level of Rs 1,280. Refined palmolein closed unaltered at Rs 507 per 10 kg.

Turning to futures, castorseed March contract resumed slightly higher at Rs 3,670 and gained further Rs 3,720 before ending at Rs 3,680 from previous closing level of Rs 3,662, a modest gain of Rs 18 per tonne.