Industrial oils plunges on hectic offloading

Posted By: Pti
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Mumbai, Feb 15 (PTI) Castorseeds bold and castoroilcommercial both tumbled at the oils and oilseeds markethere today due to heavy offloading from stockists and bulktraders on the back of increased supplies.

Castorseeds futures market too witnessed a sustainedunwinding from speculators amid poor export enquiries.

Meanwhile, groundnut oil, refined palmolein and linseedoil held steady on lack of any worthwhile buying activities.

In the non-edible section, castorseeds bold tanked byRs 350 per 100 kgs to Rs 5650 from Monday''s closing level ofRs 6,000 and castoroil commercial dropped by Rs 70 per 10 kgsto Rs 1,160 as against Rs 1,230 yesterday.

Turning to futures section, castorseeds for Marchdelivery resumed lower at Rs 5,380 and dropped further toend at Rs 5,243 from its overnight closing level of Rs 5,405,showing a sharp decline of Rs 162 per tonne.

However, Groundnutoil, refined palmolein and linseed oilall closed stable at Rs 765, Rs 605 and Rs 710 respectively.

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