Groundnut Oil Dips, Sugar Easy, Bullion Divergent

Groundnut oil eased on weak offtake coupled with brisk arrivals from the producing centres, while other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market here yesterday. Imported palmolein ruled easy.

Groundnut oil declined Rs 3 at Rs 373 per 10 kg on reduced consumer demand coupled with improved arrivals. Arrivals were at around 95/100 tonnes.

Linseed oil dropped Rs 5 to Rs 325 per 10 kg on sluggish industrial demand, while kardi and karanji oil firmed up by Rs 10 and Rs 2 to Rs 400 and Rs 160 per 10 kg respectively on better industrial offtake. Sunflower oil expeller dipped Rs 3 at Rs 357 per 10 kg on weak offtake.

Imported palmolein slipped Rs 3 at Rs 320 per 10 kg on improved inflow and subdued offtake. The majority of other oils ruled overall steady on narrow movements.

In futures, the June contract opened 50 paise lower at Rs 1,228 and firmed up to Rs 1,232 a quintal. It declined to Rs 1,228 before closing at Rs 1,232 a quintal on speculative movement.

In oilseeds, kardiseeds recovered by Rs 25 to Rs 1,450 a quintal on better industrial demand and limited arrivals. Groundnut - Karad bold and Saurashtra bold- eased Rs 20 each to Rs 1,920 and Rs 1,940 a quintal respectively.

Sugar: An easy trend continued in sugar prices on dull consumer offtake and modest arrivals.

Sugar S-30 eased further to Rs 1,435/1,470 from the previous Rs 1,438/1,470 a quintal on reduced demand coupled with normal arrivals.Sugar M-30 further weakened to Rs 1,455/1,510 as against the previous Rs 1,460/1,513 a quintal on subdued local demand. Sugar for the check-post deliveries were quoted lower at Rs 1,410/1,423 a quintal for S-30 and Rs 1,434/1,470 for M-30.

Non-ferrous metals: A steady trend was evident on the local non-ferrous metals market yesterday. Demand remained steady-to-subdued.

In scraps, all metals ruled overall steady. Copper heavy scraps was quoted at Rs 105.75 a kg, copper utensils at Rs 93.50, brass utensils at Rs 83, brass sheetcuttings Rs 87.50 and aluminium utensils at Rs 62 a kg respectively.

In virgin metals a quiet trend was noticed. Copper wirebars was quoted at Rs 115.25 a kg, aluminium ingots at Rs 82, zinc slabs at Rs 70, lead ingots at Rs 40, tin slabs at Rs 345 and nickel cathodes at Rs 310 a kg respectively.

Bullion: A divergent trend was witnessed on the local bullion market yesterday. Both precious metals ruled in opposite directions.

In white metals, silver .999 and .916 eased further by Rs 25 and Rs 30 to Rs 8,600 and Rs 8,490 a kg respectively.

Standard gold and .22 carat further firmed by Rs 10 each to Rs 4,000 and Rs 3,700 per 10 grammes respectively. Gold biscuit prices improved by Rs 100 at Rs 47,900 per piece.