Industrial oils surges on sustained demand

Written by: Pti
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Mumbai, Feb 03 (PTI) Castorseeds bold and castoroilcommercial both rallied further at the oils and oilseedsmarket here today due to sustained demand from shippers andsoap manufacturers.

Castorseed futures also shot up on persistent exportdemand as well as hectic speculative buildup amidst bouyantspot market.

Refined palmolein improved on good buying support.

Meanwhile, Groundnutoil held steady on lack of anyworthwhile buying.

In the non-edible section, castorseed bold hardened by Rs50 per 100 kg to Rs 5,600 from Wednesday''s closing levelof Rs 5,550 and castor oil commercial also firmed up by Rs 10per 10 kg to Rs 1,150 as against Rs 1,140 yesterday.

Linseedoil maintained the stable trend at Rs 710 per 10 kg.

Turning to futures section, castorseeds for Marchdelivery resumed sharply higher at Rs 4,750 and spurted to endat Rs 4,821 as against Rs 4,686 previously, showing a steeprise of Rs 135 per tonne.

Moving to edible section, refined palmolein edged higherto Rs 608 per 10 kgs from its overnight closing level of Rs607. Groundnut oil held steady at Rs 765 per 10 kg.

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