Groundnut oil reacted at higher level on reduced consumer demand coupled with improved arrivals from the producing centres, whereas other industrial oils ruled better to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein also ruled firm.
In future section, castor seeds December97 contract remained untraded, while March98 opened higher but eased towards closing.
Groundnut oil suffered a setback at higher level and declined by Rs 2 at Rs 362 per 10 kg Late rains in centres producing groundnut, cottonseeds, soyabean have turned the market bullish.
Linseed oil and mowra oil declined by Rs 13 and Rs 5 to Rs 302 and Rs 335 per 10 kg. Cottonseed oil washed and refined qualities firmed up by Rs 2 each to Rs 304 and Rs 306 per 10 kg. Soya oil refined and copra oil white declined by Rs 4 and Rs 5 to Rs 298 and Rs 585 per 10 kg. Ricebran oil firmed up by Rs 3 to Rs 175 per 10 kg. Imported palmolein firmed up by Re1 at Rs 288 per 10 kg. Majority of the oils ruled overall steady. In future section, castor seed March98 contract opened Rs 3 higher at Rs 1177.50 and improved to Rs 1179 a quintal. It declined and closed to Rs 1176 a quintal.
In oilseeds, castorseeds Madras and Maharashtra firmed up by Rs 5 each to Rs 1258 and Rs 1252 a quintal. Nigerseeds Madras quality improved by Rs 25 to Rs 1450 a quintal.
Sugar: A mixed trend was noticed in sugar prices on modest offtake and better inflows atTurbhe, Navi Mumbai yesterday. Small grade of sugar ruled firm, while medium grade ruled subdued.
Sugar S-30 grade firmed to Rs 1467/1480 from the previous level of Rs 1445/1476 a quintal.Sugar M-30 grade eased to Rs 1485/1511 a quintal from the previous level of Rs 1465/1546. Sugar for the check post deliveries was quoted low at Rs 1448/1465 a quintal for S-30 grade and Rs 1475/1500 for M-30 grade.
Non-ferrous metals: A steady to easy trend was witnessed in the local non-ferrous metals market yesterday. The demand remained sluggish.
Zinc slabs eased by 50 paise at Rs 74.00 a kg. All the other metals ruled overall steady and were nominally quoted as under:copper wirebar Rs 117.50, aluminium ingots Rs 82.25, lead ingots Rs 40, tin slabs Rs 335 and nickel cathodes Rs 330 a kg.
In scraps section, all the metals ruled overall steady and were nominally quoted as under: copper heavy scraps Rs 106.50, copper utensils Rs 95.00, brass utensils Rs 83, brass sheetcuttings Rs 88.75 and aluminium utensils Rs 62.50 a kg on narrow movements.
Bullion: An upward trend continued in the local bullion market yesterday. Both the precious metals ruled firm.
In white metals, silver .999 and .916 improved by Rs 75 each to Rs 8400 and Rs 8300 a kg. Delhi advices also indicated a modest trend.
Both standard gold and 22 carat gold firmed up further by Rs 95 and Rs 85 to Rs 4,180 and Rs 3,865 per 10 grammes. Gold bisucit prices also flared up at Rs 1100 at Rs 48,900 per piece of gold bar on better movements.
