Industrial oils move up on modest demand

Mumbai, Feb 25: Castorseeds bold and castoroil commercial both moved up at the oils and oilseeds market here on Saturday on modest demand from shippers and soap industries. On the other hand, refined palmolein eased on reduced retail buying.

Meanwhile, groundnutoil and linseedoil maintained a steady trend in the absence of market moving factors. In the futures section, castorseeds recovered slightly on mild speculative demand following fresh export enquiries.

In the non-edible section, castorseeds bold gained Rs 25 per 100 kg to Rs 3,750 from Friday's closing level of Rs 3,725 and castoroil commercial added by Rs 5 per 10 kg to Rs 780 from Rs 775. Linseedoil prices were unaltered at Rs 885 per 10 kgs.

Turning to edible section, refined palmolein eased by Rs 2 per 10 kg to Rs 574 from Rs 576 yesterday. Groundnutoil closed stable at Rs 1,080 per 10 kgs.

Moving to futures section, castorseed for March contract resumed marginally higher at Rs 3,648 and advanced further to Rs 3,679 before ending at Rs 3,670 as against previous closing level of Rs 3,647, showing a modest gain of Rs 23 per tonne.

PTI