Gnut Oil Down On Reduced Demand, Sugar Mixed

Groundnut oil went down on brisk arrivals from producing centres and reduced offtake at the wholesale oils and oilseed s market here yesterday. The demand remained weak. Other industrial oils ruled easy-to-steady, while imported palmolein ruled steady on subdued arrivals. In futures section, castorseeds December contract opened lower but firmed up towards closing.

Groundnut oil fell by Rs 3 at Rs 344 per 10 kg on reduced demand Linseed and kardi oil improved by Rs 5 and Rs 3 to Rs 275 and Rs 328 per 10 kg. Mowra and ricebran oil eased by Rs 5 and Rs 8 to Rs 225 and Rs 160 per 10 kg on dull demand. Copra oil white and neem oil rose Rs 10 and Rs 5 to Rs 560 and Rs 160 per 10 kg respectively on improved industrial demand. Imported palmolein was quoted at Rs 264 per 10 kg on subdued industrial demand.

Sugar: A mixed trend was witnessed at the local wholesale sugar market yesterday. The S-30 grade ruled firm while M30 variety ruled subdued-to-steady.

Sugar S-30 grade firmed up to Rs 1515/1526 from the previous level of Rs 1510/1526 a quintal on good festive consumer demand. M-30 grade ruled at Rs 1515/1565 against the previous level of Rs 1525/1560 a quintal on subdued offtake. Sugar for the check post deliveries were quoted low at Rs 1495/1505 a quintal for S-30and Rs 1515/1535 for the M-30 grade.

Non-ferrous metals: An easy-to-steady trend continued in the local non-ferrous market. Virgin metals ruled easy while scrap metals stood overall steady.

In the virgin section, zinc slabs and lead ingots eased by 50 paise and 25 paise to Rs 81 and Rs 41.00 a kg respectively on reduced industrial demand.The other metals were quoted as: copper wirebar Rs 128, aluminium ingots Rs 82, tin slabs Rs 305 and nickel cathodes Rs 310 a kg respectively.

In scraps section, copper heavy scraps declined by 50 paise at Rs 115 a kg, while copper utensils, brass utensils and brass sheetcuttings eased by 25 paise each to Rs 107.50, Rs 93.50 and Rs 99.50 a kg respectively on dull industrial demand.

Bullion: A recovery has been noticed at much reduced level in bullion prices noticed in the local market. Silver.999 and .916 improved by Rs 60 each to Rs 6865 and Rs 6765 a kg respectively on improved buying at reduced levels during the last few days.

In yellow metals, standard gold and 22 carat gold both firmed up Rs 30 each to Rs 4300 and Rs 3980 per 10 grams respectively on firm overseas advicesand good buying interests. Gold biscuit prices also improved by Rs 300 at Rs 50,300 per piece of gold bar of 10 tolas.