Groundnut Oil Declines Further, Bullion Firm

Groundnut oil eased further on brisk arrivals from the producing centres. Demand was subdued at higher level, whereas 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 remained untraded while September contract opened higher and firmed up further towards closing.

Groundnut oil eased Rs 2 at Rs 423 on per 10 kg on improved arrivals from upcountry centres.

Linseed oil and karanji oil declined by Rs 3 and Rs 5 to Rs 382 and Rs 180 per 10 kg respectively on brisk arrivals. Sesame oil firmed up by Rs 5 to Rs 415 per 10 kg on better industrial offtake. Neem oil and ricebran oil firmed up by Rs 2 each to Rs 212 and Rs 207 per 10 kg.respectively on improved industrial demand. Imported palmolein looked up by Rs 2 at Rs 374 per 10 kg on better demand and modest arrivals.

In futures market, castorseeds September contract opened Rs 4 up at Rs 1364.50 a quintal and firmed up to Rs 1373. It declined to Rs 1364.50 before closing at Rs 1372.50 a quintal.

In oilseeds, castorseeds-Ma-harashtra and Madras looked up by Rs 10 each to Rs 1296 and Rs 1290 a quintal respectively. Sugar: An easy trend continued in sugar prices at the local wholesale sugar market. The undertone of the market was weak.

Sugar S-30 grade eased further to Rs 1440/1475 against the previous level of Rs 1450/1478 a quintal . The M-30 variety dipped further to Rs 1460/1505 as against the previous level of Rs 1470/1515 a quintal. Sugar for the check-post deliveries were quoted lower at Rs 1420/1430 a quintal for S-30 and Rs 1435/1450 a quintal forM-30

Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market. Demand remained dull against normal arrivals.

In virgin section, nickel cathodes and tin slabs eased by Rs 2 and Re 1 to Rs 295 and Rs 351 a kg respectively. All other metals ruled overall steady and were quoted as: copper wirebar Rs 129.50, aluminium ingots Rs 82, zinc slabs Rs 76.25 and lead ingots Rs 42 a kg.

In scraps section, all the metals ruled ovoerall steady and were nominally quoted as under: copper heavy scraps Rs 114.50, copper utensils Rs 98.50, brass utensils Rs 88, brass sheetcuttings Rs 91.75 and aluminium utensils Rs 63.00 a kg respectively.

Bullion: An upward trend continued in the local bullion market following firm overseas advices and firmness in dollar in the international market. Both the precious metals ruled firm. The market undertone remained moderate.

In white metals, silver .999 and .916 improved further by Rs 80 and Rs 65 to Rs 7,520 and Rs 7,390 a kg respectively. Iindustrial demand remained subdued. In yellow metals, both- standard gold and 22 carat gold firmed up further by Rs 10 each to Rs 4,160 and Rs 3,850 per 10 grams respectively on strong overseas advices.

The consumer demand remained moderate at improved level. Gold bisucit prices also strengthened by Rs 100 at Rs 48,800 per piece of gold bar on better movements.