Groundnut oil continued to improve on better demand while other industrial oils indicated steady to subdued-trend at the wholesale oils and oilseeds market, Turbhe yesterday. Imported palmolein gained further on improved demand.
In future section, March 97 contract opened Rs 2 lower at Rs 1,169 and advanced to Rs 1180. It declined to Rs 1,169 before closing at Rs 1,177.50 on speculative short-coverings.
Groundnut oil gained further by Rs 3 at Rs 353 per ten kg on improved demand coupled with modest arrivals. Inflows are put about 80-100 tonnes a day.
Kardi oil, cottonseed oil washed and refined improved by Rs 2 at Rs 385, Rs 280 and Rs 285 per ten kg respectively on improved industrial offtake coupled with reduced arrivals. Sunflower oil expeller firmed up by Rs 2 at Rs.314 per 10 kg. Soya oil refined firmed up by Rs 1 at Rs 283 per 10 kg on better demand coupled with modest arrivals from the producing centres.
Imported palmolein recovered further by Rs 4 at Rs 289 per ten kg on improved demand. Majority of other oils, overall ruled steady on narrow movements.
Groundnuts and castorseeds recovered yesterday on better consumer demand. Groundnuts karad bold and saurashtra bold firmed up by 10 per quintal to Rs 1,850 and Rs 1,860 respectively on better demand.
An easy to downward trend was noticed at the wholesale sugar market at Turbhe yesterday. The demand overall remained sluggish. The market undertone remained weak.
Sugar small grade eased to Rs 1,260-1,300 from the previous level of Rs 1,280-1,340 a quintal while medium grade declined to Rs 1,330-1,280 from Rs 1,333-1,410 a quintal on reduced demand.
Sugar prices for the check-post were quoted lower at Rs 1,218-1,233 a quintal for S-30 grade, while Rs 1,255-1,325 quoted for M-30 grade yesterday.
A downward trend continued in the local bullion market yesterday. Both the precious metals declined on weak overseas advices. The demand overall remained dull.
In yellow metals, gold standard and 22 carat gold declined further by Rs 25 each to Rs 4,825 and Rs 4,460 per ten grams respectively on weak overseas advices, reduced demand and moderate arrivals.
Gold biscuit also declined further to Rs 56,400 from the previous level of Rs 56,700 per piece of ten tolas.
In white metals, silver 999 declined further by Rs 5 at Rs 6,755 per kg on weak industrial demand coupled with improved arrivals. Silver 916 firmed up by Rs 5 at Rs 6,665 per kg on better industrial demand. Delhi advices also indicated weak trend yesterday.
An easy to steady trend was witnessed in the local non-ferrous market yesterday. Industrial demand remained subdued. The trade volume remained small.
In virgin section, all the metals ruled overall steady on narrow movements.
Prices quoted per kg were: Copper wirebar Rs 125 per kg, aluminium ingots Rs 72, zinc slabs Rs 65, lead ingots Rs 44, Tin slabs Rs 345 and nickel cathodes Rs 368 kg respectively on moderate offtake.
