Groundnut Oil Prices Ease

In the futures section, September contract remained untraded yesterday while December contract opened up and firmed up further toward close. Groundnut oil eased on narrow movement by Rs 2 to Rs 421 per 10 kg on easy demand at higher levels, coupled with brisk arrivals from the producing centres. Arrivals were put higher at about 100/110 truck-loads yesterday.

In other oils, kardi oil and sesame oil declined by Rs 10 and Rs 3 to Rs 380 and Rs 305 per 10 kg respectively on ample availability of ready stock and reduced industrial demand. Cottonseed oil washed jacked up by by Rs 7 to Rs 295 per 10 kg.

 

Ricebran oil declined by Rs 4 to Rs 198 per 10 kg on reduced industrial demand. Castor oil Commercial and BSS varities looked up by Rs 1.50 per 10 kg each to Rs 255.0 and Rs 267.50.

Imported palmolein ruled overall steady at Rs 269 per 10 kg on improved arrivals of imported goods coupled with subdued offtrake. Meanwhile, the majority of other oils ruled overall steady on narrow movements.

In the future section, December contract opened Rs 2 up at Rs 1149 and improved to Rs 1152 per quintal on moderate speculative buying pressure. It declined to Rs 1148 before closing at Rs 1150.0. In oilseeds, a downward to steady trend was noticed. Castorseeds Madras and Maharashtra looked up by Rs 7 per quintal each to Rs 1130 and Rs 1124 respectively.

A downward to weak trend continued in the wholesale sugar market at Turbhe, Vashi, Navi Mumbai yesterday. Traders are eagerly awaiting the seasonal demand.

Sugar S-30 grade declined to Rs 1240/1285 from the previous level of Rs 1255/1290 per quintal, while M-30 grade slided to Rs 1270/1320 from Rs 1295/1305 on dull demand.

Sugar prices for check-post deliveries were also quoted low at Rs 1210/1230 a quintal for small grade and Rs 1228/1285 for mediume other metals ruled overall steady on narrow movements.