Groundnut Oil Moves Up To Rs 585, Bullion Divergent

Groundnut oil held overall steady at improved level yesterday. The demand, however, was subdued at the high level. Most of the other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Groundnut oil was nominally quoted at Rs 585 per 10 kg. However, no deals were done at this rate. Arrivals from the producing centres remained scattered-to-nil. In other oils, castor oil commercial and BSS qualities moved up further by Rs 9 each to Rs 466 and Rs 478 per 10 kg respectively. Kardi oil and karanji oil moved up by Rs 5 each to Rs 625 and Rs 205 per 10 kg respectively. Copra oil white and soya oil refined declined by Rs 5 and Rs 2 to Rs 465 and Rs 388 per 10 kg. Imported palmolein eased by Re 1 at Rs 364 per 10 kg.

In the futures section, the December contract opened Rs 44 higher at Rs 1,878 a quintal but declined and closed at Rs 1834 a quintal on speculative movements.

In oilseeds, castorseeds Madras and Maharashtra qualities jumped up further by Rs 43 each to Rs 2141 and Rs 2,135 a quintal respectively.

Sugar: A dull trend continued in sugar prices yesterday. Sugar S-30 declined further to Rs 1431/1480 a quintal against its previous level of Rs 1431/1485. Sugar M-30 weakened further to Rs 1460/1525 a quintal against its previous level of Rs 1460/1530 on dull offtake. Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1410/1420 a quintal for the S-30 grade and Rs 1433/1445 a quintal for the M-30 grade.

Non-ferrous metals: A firm-to-steady condition was noticed in the local market yesterday.

In virgin metals, nickel cathodes improved by Rs 2 at Rs 254 a kg. Copper wirebar and zinc slabs firmed up by 50 paise each to Rs 121.50 and Rs 79 a kg respectively. Meanwhile, all the other metals ruled overall steady and were nominally quoted as under : aluminium ingots Rs 85.50, lead ingots Rs 45.00 and tin slabs Rs 380 a kg respectively.

In the scraps section, copper heavy scraps looked up by 50 paise while copper utensils, brass utensils and brass sheetcuttings firmed up by 25 paise each to Rs 108, Rs 93.75, Rs 82.25 and Rs 86.25 a kg respectively. Aluminium utensils was steady and were quoted at Rs 63 a kg.

Bullion: A mixed trend was noticed in the local bullion market yesterday. While silver was divergent, gold ruled weak.

In yellow metals, both standard gold and 22 carat gold declined further by Rs 40 and Rs 35 to Rs 4210 and Rs 3895 per 10 grams respectively on weak overseas advices. Gold biscuit prices lost Rs 300 at Rs 49,200 per piece of bar. In white metals, silver .999 firmed up marginally by Rs 10 at Rs 7800 a kg while .916 eased by Rs 5 to Rs 7675 a kg on reduced local supplies.