Gnut Oil Eases, Bullion Forks, Metals Firm Divergent

Groundnut oil eased further on improved arrivals from producing centres, while other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market here yesterday. Imported palmolein ruled firm.

In futures section, castorseeds June contract opened lower and eased towards closing.

Groundnut oil eased further by Rs 2 at Rs 428 per 10 kg on subdued consumer demand at higher level against better arrivals from the producing centres. Arrivals were put at around 90 tonnes a day.

Linseed and kardi oils fell Rs 5 and Rs 10 to Rs 395 and Rs 515 per 10 kg respectively on reduced industrial offtake. Castor oil -commercial and BSS qualities - eased by Re 1 each to Rs 280 and Rs 292 per 10 kg respectively. Rapeseed oil-refined and karanji oil eased by Rs 2 to Rs 388 and Rs 178 per 10 kg. Copra oil-white rose Rs 5 to Rs 510 per 10 kg on good industrial demand.

Imported palmolein firmed up by Rs 2 to Rs 384 per 10 kg on limited arrivals of imported goods.

In the futures market, castorseeds June contract opened Rs 8 lower at Rs 1294 a quintal and ruled steady. It fell to Rs 1288.50 before closing at Rs 1291.50 a quintal.In oilseeds, castorseeds-Madras and Maharashtra qualities eased by Rs 5 each to Rs 1248 and Rs 1242 a quintal respectively.

Sugar: A firm-to-upward trend was noticed in local sugar market yesterday. Both the grades ruled firm. The undertone was weak.

Sugar S-30 improved to Rs 1470/1510 against the previous level of Rs 1450/1500 a quintal on reduced availability of ready stock.The M-30 grade firmed up to Rs 1515/1564 as against the previous level of Rs 1500/1545 a quintal on improved buying interest. Sugar for the check-post deliveries were quoted lower at Rs 1465/1485 a quintal for S-30, and Rs 1500/1520 a quintal for M-30 grade.

Non-ferrous metals: Tin and nickel ruled firm while the other metals witnessed an overall steady trend in the local non-ferrous metals market.

In virgin section, tin slabs and nickel cathodes improved by Rs 3 each to Rs 348 and Rs 315 a kg respectively on improved industrial demand coupled with limited arrivals from the upcountry centres. Meanwhile. all the other metals ruled overall steady.In scraps section, all the metals ruled overall steady and were nominally quoted as per previous rates.

Bullion: A divergent trend was noticed in the local bullion market. . In white metals, silver .999 and .916 gained Rs 15 and Rs 35 to Rs 8,795 and Rs 8,675 a kg respectively on firm overseas advices and moderate upcountry arrivals.

In yellow metals, both- standard and 22 carat gold eased further by Rs 5 each to Rs 4,210 and Rs 3,895 per 10 grams respectively on reduced demand.

Overseas advices also indicated weak trend. Gold biscuit prices ruled overall steady at the previous level.