Groundnut Oil Gains Rs 5, Sugar Firm, Bullion Easy

Oils and Oilseeds: Groundnut oil firmed up by Rs 5 at Rs 350 per 10 kg on limited availability of ready stock against better demand from consumers, while all the other oils ruled steady to easy in the local oils and oilseeds market yesterday.

The arrivals of imported goods remained scarce and the trading volume was modest. Out-of-state orders indicated a modest trend.

Cottonseed oil washed and refined qualities firmed up by Rs 2 and Rs 3 to Rs 285 and Rs 290 per 10 kg respectively on better industrial demand against subdued availability of ready stock. Castor oil commercial and FSG qualities declined further by Rs 2 each to Rs 234 and 246 per 10 kg respectively on dull industrial demand against normal inflows.

Imported RBD palmolein and imported soya oil refined eased by Rs 3 and Re 1 to Rs 227 and Rs 249 per 10 kg respectively on subdued industrial demand against normal inflows.

Castorseeds June-2001 contract opened Rs 2 lower at Rs 1070 a quintal and held overall steady at the same level. It declined and closed to Rs 1055 a quintal on subdued speculative movements.

September contract opened Re 1 up at Rs 1135 a quintal held steady at the same level. It eased and closed at Rs 1122 on narrow speculative movements.

All the RBD palmolein contracts i.e. - January, February and March-2001remained untraded yesterday.

Castor oil international June-2001 contract opened Rs 2 lower at Rs 259 per 10 kg and held overall steady at the same level throughout the trading session.

In oilseeds, castorseeds weakened further by Rs 10 at Rs 1020 a quintal on dull industrial demand against modest availability of ready stock. Meanwhile, kardiseeds and nigerseeds ruled overall steady at Rs 1120 and Rs 1650 a quintal respectively on narrow movements.

Sugar: A firm trend witnessed in sugar prices on improved consumer offtake against restricted inflows at the local Turbhe wholesale sugar market yesterday. Both the grades ruled firm.

Small-grade sugar (S-30) firmed up to Rs 1455/1480 a quintal against its previous level of Rs 1450/1480 on reduced availability of ready stock against better consumer demand.

Medium-grade (M-30) edged up to 1495/1540 a quintal against its previous level of Rs 1485/1535 on improved demand against modest availability.

Consumer demand was better against normal supplies of ready stock. Sugar prices for check-post were quoted low at Rs 1435/1465 for S-30 grade and Rs 1470/1495 a quintal for M-30 grade yesterday.

Non-ferrous metals: Nickel and tin prices firmed up while all the other metals witnessed steady trend in the non-ferrous metals at the local market yesterday. All the metals ruled mostly steady.

In virgins, nickel cathodes and tin slabs improved by Rs 7 and Re 1 to Rs 465 and Rs 374 a kg respectively on reduced availability of ready stock against better industrial demand.

Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : copper wirebar Rs 133.50, aluminium ingots Rs 96.00, zinc slabs Rs 80.00 and lead ingots Rs 39.50 a kg respectively on narrow movements.

In scraps, all the metals ruled overall steady and were nominally quoted as under : copper heavy scraps Rs 119.50, copper utensils Rs 107.00, brass utensils Rs 94.50, brass sheetcuttings Rs 99.00 and aluminium utensils Rs 75.50 a kg respectively on narrow movements.

Bullion: A mixed trend continued in precious metals prices at the local bullion market yesterday. Silver ruled dull while gold ruled firm to steady.

Silver .999 and .916 declined by Rs 20 and Rs 25 to Rs 7340 and Rs 7220 a kg respectively on weak overseas advices and modest offtake locally. Delhi advices indicated a modest trend.

Standard gold firmed up by Rs 5 at Rs 4375 per 10 grams on better upcountry advice and modest offtake while 22 carat gold held overall steady to Rs 4040 per 10 grams on subdued demand coupled with steady upcountry advices.

Gold biscuits prices ruled firm and gained further Rs 150 at Rs 51,450 per piece on firm industrial movements.