Industrial oils recovered on renewed demand

Castorseeds bold and castoroil commercial prices recovered smartly at the oils and oilseeds Vashi Wholesale Market here today on renewed hectic demand from shippers and soap manufacturers.
Groundnut oil eased further owing to subdued demand from stockist and retailers amid better supply positions.
On the other hand, refined palmolein prices improved further due to consistent demand from retailers following bullish Malaysian cues.
Linseed oil maintained a stable trend in the absence of any worthwhile buying.
In the futures, castorseeds June contract surge on speculative buying owing to sustained export enquiries.
In the non-edible segment, Castorseeds bold shot-up by Rs 150 per 100kg to Rs 3,575 from Friday's closing level of Rs 3,425 and castoroil commercial climbed by Rs 30 per 10kg to Rs 745 from Rs 715. Linseed oil closed unchanged at Rs 735.

Turning to edible section, Refined palmolein gained by Rs 4 per 10kg to Rs 519 from Rs 515. However, groundnut oil eased by Rs 5 per 10kg to Rs 1,045 as against Rs 1,050 previously.
Moving to futures, Castorseeds June contract resumed higher at Rs 3,590 and later moved up further to close at Rs 3,626 from yesterday's closing level of Rs 3,572, a net gain of Rs 54 per tonne.