Gujarat Cotton Varieties Extend Losses

Punjab cotton was steady, they said. In spot deals Gujarat Kalyan (medium staple) fell by Rs 200/300 to Rs 11,800/12,000 per candy (355.56 kg) while wagad cotton fell by Rs 100/200 to Rs 10,300/10,400.

Punjab was quiet on limited activity. Punjab saw-ginned was steady at Rs 1,675/1,700 per maund (37.32 kg) while F-414 was quiet at Rs 1,925/1,940.

About 1,400/1,500 bales (170 kg each) of Punjab cotton were traded today, one broker said.

December delivery prices of castorseed yesterday fell to Rs 1,112/1,113 per quintal from Rs 1,118 on fresh offerings, traders said. Export demand was low while higher supplies triggered bull liquidation, one trader said.

September delivery was nominally quoted at Rs 1,085/1,090.

September volumes were negligible as outstanding business had already switched over to December delivery, he said.

Groundnut oil fell to Rs 431/432 per 10 kg from 435 on demand resistance while improved arrivals triggered light profit-taking.

Prices of soybean continued firm, rising Rs 50 per tonne, dealers said. Soyoil price dipped because of poor demand. Soyoil solvent fell by Rs 100 per tonne but soyoil refined was steady.

Rapeseed extraction was $106-107 per tonne for export. Rapeseed extraction was Rs 3,650-3,675 f.o.r. Bedibunder and was Rs 3,625-3,650 f.o.r. Bhavnagar port.

Prices of sugar eased modestly in sluggish trading, dealers said. Light consumer demand and higher supplies pulled prices down and the undercurrent was steady, they said.

In the ready delivery sugar S-30 slid Rs 5.0 to Rs 1,370/1,400 per quintal while M-30 fell by Rs 10 to Rs 1,395/1,440.

Sugar mill delivery also dropped Rs 5.0 to Rs 1,315/1,325 per quintal in the absence of fresh outstation buying.

Silver prices opened higher on the back of spurt in the world market but demand resistance at the higher level and light profit-taking trimmed early gains towards yesterday