Industrial oils recover on renewed demand

Castorseeds bold and castoroil commercial recovered moderately at the oils and oilseeds market today on fresh demand from shippers and soap manufacturing units.
While, in the edible segment, groundnut oil weakened further owing to poor demand from stockists and retailers as well as ample supply positions.
Refined palmolein also edged down in the absence of retail buying support.
Linseed oil held steady due to lack of any worthwhile buying.
In futures trade, castorseeds September contract ruled sluggish on stockists selling amid subdued export enquiries.
In the non-edible section, castorseeds bold rose by Rs 50 per 100 kg to Rs 3,425 from Friday's closing level of Rs 3,375 and castoroil commercial gained Rs 10 per 10 kg to Rs 715 from Rs 705. Linseed oil unaltered at Rs 725 per 10 kg.

Turning to edible segment, groundnutoil eased by Rs 10 per 10 kg to Rs 930 from overnight closing level of Rs 940 and refined palmolein went down by Rs 2 per 10 kg to Rs 516 from Rs 518.
Moving to futures, castorseeds September contract opened lower at Rs 3,421 and moved in a range of Rs 3,427 and RS 3,420 before ending at Rs 3,426 from Rs 3,458 previously, showing a loss of Rs 32 per tonne.