Industrial oils fall on reduced demand

Business

Mumbai, May 17

Castor seeds bold and castor oil commercial fell further at the Vashi oils and oilseeds wholesale market here today on reduced demand from soaps and shippers industries.

Linseeds oil slid owing to lower demand from paint and allied industries.

Elsewhere, refined palmolein also eased due to subdued demand from retailers.

While, groundnut oil ruled steady in the absence of any large-scale buying activity.

In the non-edibles section, castor seeds bold weakened by Rs 55 per 100 kg to Rs 4,015 from Wednesday’s closing level of Rs 4,070 and castor oil commercial also declined by Rs 11 per 10 kg to Rs 833 as against Rs 844 previously.

Linseeds oil moved down by Rs 7 per 10 kg to Rs 780 as compared to Rs 773 yesterday.

Moving to the edible segment, refined palmolein edged down by Rs 2 per 10 kg to Rs 718 from Rs 720 and groundnut oil closed unchanged at Rs 845 per 10 kg, respectively.

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