Groundnut Oil Up By Re 1, Sugar Softer, Bullion Firm

A firm trend was noticed in groundnut oil yesterday on restricted supplies coupled with low demand.

Most of the edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market here yesterday. Groundnut oil firmed up by Re 1 at Rs 517 per 10 kg. Arrivals were placed around 80/90 tonnes a day.

Castor oil Commercial and BSS qualities firmed up further by Re 1 each to Rs 430 and Rs 442 per 10 kg respectively. Linseed oil and sesame oil moved up by Rs 15 and Rs 5 to Rs 445 and Rs 430 per 10 kg respectively on paucity of ready stock against better industrial offtake.

Sunflower oil expeller declined by Rs 4 at Rs 406 per 10 kg on weak industrial demand, whereas soya oil refined improved by Rs 3 to Rs 378 per 10 kg. Imported palmolein ruled overall steady at Rs 354 per 10 kg on narrow movement.

In futures, December contract opened Rs 7 lower at Rs 1,765 and ruled overall steady at the same level. It closed at Rs 1754 a quintal.

Castorseeds Madras and Maharashtra qualities improved by Rs 5 each to Rs 1968 and Rs 1962 a quintal respectively.

Sugar: A subdued-to-easy trend was noticed in prices at the wholesale sugar market here yesterday. Both grades ruled subdued.

S-30 eased to Rs 1470/1500 a quintal as against the previous level of Rs 1472/1500. Similarly, M-30 softened to Rs 1485/1555 a quintal against Rs 1495/1555 on dull offtake.

Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1445/1448 a quintal for S-30 and Rs 1465/1480 a quintal for M-30.

Non-ferrous metals: An easy-to-dull trend was noticed in the local non-ferrous metals market yesterday.

Copper wirebar and zinc slabs declined by Re 1 to Rs 124.50 and Rs 80.00 a kg respectively. Tin slabs firmed up by Rs 2 at Rs 386 a kg. All the other metals ruled overall steady and were nominally quoted as under: aluminium ingots Rs 85.50, lead ingots Rs 45.50, and nickel cathodes Rs 258 a kg respectively on narrow movements.

Copper heavy scraps and copper utensils dipped by 50 paise each to Rs 109.00 and Rs 85.50 a kg respectively, while brass utensils and brass sheetcuttings eased by 25 paise each to Rs 83.50 and Rs 87.00 a kg respectively.

Bullion: An upward-to-firm trend was noticed in the local bullion market yesterday. Both the precious metals ruled firm. Silver .999 and .916 improved by Rs 20 and Rs 10 to Rs 8,045 and Rs 7,910 a kg respectively on modest industrial demand coupled with limited supply position.

Both standard gold and 22 carat gold firmed up by Rs 10 each to Rs 4205 and Rs 3890 per 10 grams respectively. Gold biscuit prices moved up by Rs 50 at Rs 49,350 per piece of gold bar on better movements.