Groundnut Oil Rules Firm, Bullion Easy, Sugar Steady

A firm trend continued in groundnut oil yesterday on paucity of ready stock following restricted arrivals. The demand was subdued at higher levels. Other industrial oils ruled better to steady at the wholesale oils and oilseeds market at Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm.

In the futures section, castorseeds June contract remained untraded while the September contract opened lower and then firmed up towards the close. Groundnut oil soared further by Rs 10 at Rs 462 per 10 kg on short-supply of ready stock coupled with restricted arrivals from the producing centres.

In other oils, kardi oil and mowra oil improved by Rs 5 each to Rs 575 and Rs 330 per 10 grams respectively on improved industrial demand coupled with limited arrivals. Linseed oil and copra oil white advanced by Rs 8 and Rs 15 to Rs 420 and Rs 460 per 10 kg respectively on paucity of ready stock. Soyabean oil refined and sunflower oil expeller looked up by Rs 5 and Rs 3 to Rs 393 and Rs 408 per 10 kg on better industrial offtake.

In oilseeds, castorseeds Maharashtra and Madras improved by Rs 15 each to Rs 1,373 and Rs 1,367 a quintal respectively on better industrial demand. Nigerseeds Madras quality firmed up further by Rs 25 at Rs 1,800 a quintal on better offtake against limited availability. In groundnuts - Karad bold and Saurashtra quality looked up by Rs 20 each to Rs 2,000 and Rs 2,020 a quintal respectively on limited availability of ready stock. Sugar: A steady to firm trend was witnessed in sugar prices at the wholesale sugar market, Turbhe, Navi Mumbai yesterday.

Sugar S-30 grade firmed up to Rs 1,443/1,480 a quintal from the previous level of Rs 1440/1470 on improved demand coupled with limited arrivals. Sugar M-30 ruled overall steady at Rs 1,460/1,505 as against the previous level of Rs 1,461/1,505 a quintal.

Non-ferrous metals: A firm to steady trend was noticed in the local non-ferrous metals market yesterday. The demand remained better for scrap metals. The undertone remained weak.

In the scraps section copper heavy scraps, brass utensils and brass sheetcuttings firmed up by 50 paise each to Rs 118.50, Rs 90.50 and Rs 94 a kg respectively.

Bullion: An easy to steady trend was noticed in the local bullion market yesterday. Silver ruled easy while gold ruled overall steady. The undertone of the market remained weak.

In white metals, silver .999 and .916 easy by Rs 10 and Rs 55 to Rs 7,850 and Rs 7,690 a kg.

In yellow metals, both the precious metals standard gold and 22 carat gold ruled overall steady and were nominally quoted at Rs 4,230 and Rs 3,915 per 10 grammes respectively. Gold biscuit prices also held steady at Rs 49,700 per piece of gold bar on narrow movements.