Industrial oils eases on reduced demand

Mumbai, May 1: Castorseeds bold and castoroil commercial eased in an otherwise lacklustre oils and oilseeds market here on Monday, Apr 30, on reduced demand from shippers and soap manufacturers.

Meanwhile, groundnutoil, refined palmolein and linseedoil all held steady in the absence of any major buying activity.

In the futures market, castorseeds slipped further on speculative selling due to subdued export enquiries.

In non-edible section, castorseed bold moved down by Rs 25 per 100 kg to Rs 3,325 from last Saturday's closing level of Rs 3,350 and castoroil commercial went down by Rs 5 per 10 kg to Rs 695 from Rs 700 previously.

Moving to futures, castorseed for June contract resumed steady at Rs 3,435, hovered in range of Rs 3,445 and Rs 3,400 before ending at Rs 3,422 from Rs 3,435 previously, showing a modest loss Rs 13 per tonne.

However, groundnutoil, refined palmolein and linseedoil all closed stable at Rs 1,255, Rs 660 and Rs 770 respectively


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