Industrial oils firm up on rising demand

Industrial oils firm up on rising demand

Mumbai: Castorseed bold and castor oil commercial prices firmed up at Vashi oils and oilseeds wholesale market here today due to rising demand from shippers and soap industries.

Meanwhile, groundnut oil and refined palmolein slipped owing to poor offtake from stockists and retailers.

Linseed oil ruled stable in the absence of any large-scale buying activity.

In the non-edible segment, castorseed bold climbed by Rs 90 per 100 kg to Rs 3,290 from Thursday’s level of Rs 3,200 and castoroil commercial went up by Rs 18 per 10 kg to Rs 688 as against Rs 670 previously.

However, linseed oil closed unchanged at Rs 870 per 10 kg.

In the edible section, groundnut oil declined by Rs 10 per 10 kg to Rs 1,110 from overnight closing level of Rs 1,120 and refined palmolein also edged down by Rs 2 per 10 kg to Rs 600 as compared to Rs 602 previously.