Industrial oil moves down in sluggish trade

Oil barrels
Mumbai, July 30: Linseedoil prices declined in an otherwise mute oils and oilseeds market here today due to reduced offtake from paint industries. Meanwhile, castorseeds futures gained following fresh enquiries from exporters.

However, groundnutoil, refined palmolein, castorseeds bold and castoroil commercial all held steady in the absence of any worthwhile buying. In the non-edible section, linseedoil fell by Rs 10 per 10 kilos to Rs 710 from overnight closing level of Rs 720.

Castorseeds bold and castoroil commercial both closed unchanged at Rs 5,220 and Rs 1,074, respectively.

Turning to futures section, castorseeds for September delivery resumed higher at Rs 5,240 and traded in the range of Rs 5,260 and Rs 5,205 before ending at Rs 5,225 from Friday's closing level of Rs 5,210, showing a modest gain of Rs 15 per tonne.

Moving to edible section, both groundnutoil and refined palmolein closed unaltered at Rs 965 and Rs 554, respectively.


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