Groundnut Oil Slips Afresh, Bullion Ends On Firm Note

Groundnut oil receded further yesterday on improved arrivals from the producing centres. The demand was subdued at higher level, whereas other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.

Groundnut oil eased further by Rs 3 at Rs 429 per 10 kg on improved arrivals. Arrivals were put at around 90 tonnes a day.

Rapeseed oil refined and sunflower oil expeller declined by Rs 8 and Rs 6 to Rs 392 and Rs 402 per 10 kg respectively. Kardi oil firmed up by Rs 5 at Rs 560 per 10 kg better industrial interest. Imported palmolein weakened by Rs 3 at Rs 394 per 10 kg on dull industrial demand and modest arrivals.

Castorseeds Madras and Maharashtra qualities improved by Rs 10 each to Rs 1253 and Rs 1247 a quintal respectively on improved industrial offtake. Sesame seeds and nigerseeds Madras moved up by Rs 75 and Rs 25 a quintal to Rs 2000 and Rs 1650 a quintal respectively.

Sugar: An easy to dull trend continued in sugar prices at the wholesale sugar market yesterday. The market undertone was weak.

S-30 eased to Rs 1510/1535 against the previous level of Rs 1521/1537 a quintal on dull offtake coupled with easy availability of ready stock. M-30 declined to Rs 1520/1575 as against the previous level of Rs 1533/1575 a quintal Sugar for the check-post deliveries were quoted lower at Rs 1497/1505 a quintal for S-30 and Rs 1512/1530 a quintal for M-30.

Non-ferrous metals : A firm-to-upward trend was noticed in the local non-ferrous metals market yesterday. The demand remained better against normal arrivals.

Nickel cathodes and copper wirebar improved by Rs 4 and Rs 1.50 to Rs 302 and Rs 129 a kg respectively on better industrial demand.Zinc slabs also improved by Re 1 at Rs 76 a kg restricted arrivals from the upcountry centres against better demand. Meanwhile, all the other metals ruled overall steady and were quoted as under : aluminium ingots Rs 82, lead ingots Rs 42 and tin slabs Rs 345 a kg. respectively

Copper heavy scraps flared up by Rs 1.50 at Rs 113.50 a kg. While brass utensils, brass sheetcuttings and aluminium utensils firmed up by 50 paise each to Rs 88.00, Rs 91.50 and Rs 63.00 a kg respectively.

Bullion : An upward trend was noticed in the local bullion market yesterday following a fall in the rupee value. Both precious metals ruled firm. The undertone of the market remained hesitant.

Silver .999 and .916 improved by Rs 90 each to Rs 8,020 and Rs 7,910 a kg respectively. Both- standard gold and 22 carat gold firmed up by Rs 50 and Rs 45 to Rs 4,110 and Rs 3,800 per 10 grams respectively. Gold biscuit prices also strengthened by Rs 600 at Rs 48,200 per piece of gold bar on better movements.