Groundnut Oil Stems Fall, Sugar, Bullion Mixed

The downward trend in groundnut oil was arrested yesterday on reduced arrivals from the producing centres, whereas other industrial oils ruled easy to steady at the local wholesale oils and oilseeds market. Imported palmolein ruled firm.

In the futures section, castorseeds-June contract opened higher but eased towards closing.

Groundnut oil firmed up by Rs 4 at Rs 404 per 10 kg on improved consumer demand. Arrivals were put at around 90-95 tonnes a day.

Linseed oil and sunflower oil-expeller rose by Rs 3 and Rs 2 to Rs 370 and Rs 390 per 10 kg respectively. Cottonseed oil-washed and refined qualities eased further by Rs 2 each to Rs 374 and Rs 376 per 10 kg respectively.

Copra oil-white eased by Rs 5 at Rs 510 per 10 kg on dull industrial offtake. Imported palmolein firmed up by Rs 3 at Rs 371 per 10 kg on reduced arrivals of imported goods. In the futures market, castorseeds June contract opened Rs 4.50 higher at Rs 1280.50 a quintal to firm up to Rs 1282. It declined to Rs 1278.50 before closing at Rs 1279.50 a quintal.

In oilseeds, castorseeds-Madras and Maha-rashtra qualities moved up Rs 9 each to Rs 1243 and Rs 1237 per quintal respectively on better industrial offtake against limited availability.

Sugar: The local sugar market witnessed a mixed trend yesterday. Sugar S-30 eased to Rs 1480/1511 against the previous level of Rs 1480/1515 a quintal on easy availability of ready stock.

The M-30 grade improved further to Rs 1510/1560 as against the previous level of Rs 1505/1558 a quintal.

Sugar for the check-post deliveries were quoted lower at Rs 1460/1485 a quintal for S-30, while Rs 1495/1520 a quintal for M-30 grade.

Non-ferrous metals: Copper ruled firm while all the other metals ruled steady at the non-ferrous metals market In scraps section, copper heavy scraps and copper utensils firmed up by 25 paise each to Rs 109 and Rs 95.25 a kg respectively.

In others : brass utensils Rs 85.50, brass sheetcuttings Rs 89.50 and aluminium utensils Rs 62.00 a kg In virgin section, copper wirebar firmed up by 25 paise at Rs 121 a kg on good demand.

Aluminium ingots Rs 82, zinc slabs Rs 73.50, lead ingots Rs 41.25, tin slabs Rs 350 and nickel cathodes Rs 315 a kg

Bullion: A mixed trend was noticed in the local bullion market. In white metals, silver .999 and .916 eased by Rs 40 and Rs 30 to Rs 8,830 and Rs 8,710 a kg respectively. Standard gold and 22 carat gold firmed up further by Rs 20 each to Rs 4,260 and Rs 3,940 per 10 grams respectively.

Gold biscuit prices also improved up further by Rs 100 at Rs 49,900 per piece of gold bar on better movements.