Groundnut Oil Marginally Up

Groundnut oil firmed up on narrow movement by Re 1 to Rs 423 per 10 kg on easy demand at higher level and brisk supplies from the producing centres. Arrivals were put higher at about 100/110 truck-loads.

Rapeseed refined and soybean oil refined declined by Rs 3 and Rs 4 to Rs 309 and Rs 306 per 10 kg respectively on ready stocks and reduced industrial demand. Sunflower oil expeller eased by by Re 1 to Rs 286 per 10 kg on easy offtake.

Sesame oil declined by Rs 2 to Rs 308 per 10 kg on reduced industrial demand. Castor oil commercial and BSS varieties eased by 50 paise per 10 kg each to Rs 254 and Rs 266 respectively on easy offtake.

 

Imported palmolein eased by Re 1 to Rs 270 per 10 kg on improved imports and better offtake. Meanwhile, majority of other oils ruled overall steady on narrow movements. In futures, December contract opened 50 paise down at Rs 1,148 and improved to Rs 1,150.0 per quintal on moderate speculative buying pressure. It declined to Rs 1143.50 before closing at Rs 1147.

In oilseeds, castorseeds Madras and Maharashtra eased by Rs 3 per quintal each to Rs 1123 and Rs 117 respectively. Other oilseeds ruled overall steady on narrow movements.

A weak to dull trend continued at the wholesale sugar market at Turbhe, Vashi, Navi Mumbai, yesterday. Traders are eagerly waiting the seasonal demand to pick up.

Sugar S-30 grade declined to Rs 1255/1290 from the previous level of Rs 1258/1290 per quintal, while M-30 grade was down Rs 1295/1305 from Rs 1290/1354 on dull demand.

Sugar prices for check-post deliveries were also quoted low at Rs 1230/1255 a quintal for small grade and Rs 1255/1292 for medium grade. The undertone of the market remained dull.

A downward trend was noticedat the local bullion market with overall demand for gold & silver remaining low.

Silver.999 declined to Rs 6,900 from Rs 6,950 per kg on reduced industrial and seasonal demand and improved arrivals.

Silver.916 also declined from Rs 6,850 to Rs 6,800 per kg. The Delhi advices were weak.

Standard gold eased by Rs 5 at Rs 5,100 per 10 grams on easy demand. Gold 22 carat, however, remained steady on narrow movement.

Gold biscuit prices dropped by Rs 50 to Rs 59,750 per 10 tolas piece on reduced demand. The market undertone was weak.

An overall downward trend prevailed in scraps while virgin metals ruled easy to steady in the local non-ferrous metals market yesterday. Industrial demand was dull and the trade volumes restricted.

In scraps, copper heavy scraps and utensil scraps eased by Re 1 per kg each to Rs 113 and Rs 101 respectively on dull demand backed by weak LME advices.

Brass utensils and brass sheet cuttings weakened by 25 paise per kg each to Rs 84.75 and Rs 90.25 respectively on easy industrial offtake. Aluminium utensils were overall steady on narrow movements.

In virgin section, nickel cathodes and tin slabs lost Rs 5 and Rs 2 to Rs 388 and Rs 357 per kg respectively on dull industrial demand.

Copper wirebars eased by 50 paise to Rs 18.50 a kg on easy industrial support. All the other metals were overall steady on narrow movements.