Groundnut Oil Cheaper By Rs 6, Gold By Rs 10

The weak trend continued in groundnut oil yesterday on sluggish demand coupled with improved supplies. Most of the other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Groundnut oil declined further by Rs six at Rs 507 per 10 kg on better inflows. Arrivals were placed around 100 tonne a day.

In other oils, linseed oil and soya oil refined declined by Rs five each to Rs 430 and Rs 380 per 10 kg respectively. Copra oil white and sunflower oil expeller weakened by Rs 15 and Rs five to Rs 440 and Rs 380 per 10 kg respectively. Castor oil commercial and BSS qualities soared further by Rs 19 each to Rs 425 and Rs 437 per 10 kg respectively. Imported palmolein declined further by Rs three at Rs 355 per 10 kg on subdued offtake against easy availability. In the futures, September '98 contract opened Rs 10 higher at Rs 1,712, improved to Rs 1722, declined to Rs 1712 before closing at Rs 1,722 a quintal. Sugar: A mixed trend was noticed in prices at the wholesale sugar market yesterday.

Sugar M-30 grade ruled marginally firm at Rs 1500/1560 a quintal against its previous level of Rs 1495/1555. Sugar S-30 ruled subdued at Rs 1475/1500 a quintal against its previous level of Rs 1480/1495 on modest offtake.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1465/1475 a quintal for the S-30 grade and Rs 1485/1511 a quintal for the M-30 grade. Non-ferrous metals: A dull-to-steady trend was noticed in the local non-ferrous metals market yesterday.

In virgin metals, nickel cathodes and copper wirebar declined by Rs five and Rs two to Rs 265 and Rs 126.50 a kg respectively. Zinc slabs eased by 50 paise at Rs 82.00 a kg. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : aluminium ingots Rs 85.50, lead ingots Rs 45.50 and tin slabs Rs 382 a kg respectively.

In the scraps section, copper heavy scraps dipped by Rs 1.50 at Rs 110.50 a kg. Copper utensils, brass utensils and brass sheetcuttings eased by Re one to Rs 96.50, Rs 84.50 and Rs 88 a kg respectively. Aluminium utensils ruled overall steady and was nominally quoted at Rs 63 a kg on narrow movements.

Bullion: An easy-to-dull trend was noticed in the local bullion market yesterday. In white metals, silver .999 and .916 declined by Rs 60 and Rs 90 to Rs 8,155 and Rs 8,015 a kg respectively. In yellow metals, both standard gold and 22 carat gold eased further by Rs 10 each to Rs 4195 and Rs 3880 per 10 grams respectively. Gold biscuit prices weakened by Rs 150 at Rs 49,150 per piece of bar.