A firm-to-upward trend continued in groundnut oil on paucity of ready stock following limited arrivals from the producing centres. The Gujarat government has banned exports of groundnut oil from the state, and has also fixed the maximum price level for the product. Other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday.
Groundnut oil gained further by Rs 12 at Rs 487 per 10 kg on reduced arrivals from Gujarat.
In other oils, linseed oil and mowra oil shot up by Rs 15 and Rs 10 to Rs 445 and Rs 370 per 10 kg. Sesame oil and neem oil firmed up by Rs 5 each to Rs 435 and Rs 235 per 10 kg. Copra oil white and sunflower oil expeller gained Rs 10 and Rs 5 to Rs 485 and Rs 420 per 10 kg on paucity of ready stock. Karanji oil eased by Rs 2 to Rs 190 per 10 kg. Imported palmolein gained Rs 3 at Rs 375 per 10 kg.
In futures market, castorseeds September contract opened Rs 4 higher at Rs 1,435 a quintal, declined to Rs 1,430.50 before closing at Rs 1,431 a quintal.
In oilseeds, castroseeds Madras and Maharashtra qualities declined by Rs 5 each to Rs 1,435 and Rs 1,429 per quintal.
Sugar: A firm-to-upward trend was witnessed in sugar prices at the wholesale sugar market, Turbhe, Navi Mumbai yesterday. The statement by food minister S S Barnala that India will not import sugar has changed the market sentiment.
Sugar S-30 grade improved to Rs 1,460/1,475 a quintal as against the previous level of Rs 1,450/1,465 on better consumer demand coupled with normal arrivals. Sugar M-30 firmed up to Rs 1,475/1,530 a quintal as against the previous level of Rs 1,470/1,505.
Meanwhile, sugar for the check-post deliveries were quoted lower at Rs 1440/1452 a quintal for S-30 grade and Rs 1460/1475 a quintal for the M-30 grade.
Non-ferrous metals: An easy-to-downward trend was noticed in the non-ferrous metals market.
In the virgin section, nickel cathodes declined by Rs 2 at Rs 296 a kg. Copper wirebar and zinc slabs eased by 50 and 25 paise to Rs 132 and Rs 79 a kg. Meanwhile, all the other metals ruled steady, and were quoted as under: aluminium ingots Rs 83, lead ingots Rs 43.50 and tin slabs Rs 375 a kg.
In the scraps section, copper heavy scraps declined by 50 paise while copper utensils, brass utensils and brass sheetcuttings eased by 25 paise each to Rs 115.25, Rs 103.35, Rs 89 and Rs 93 a kg respectively on sluggish offtake. Aluminium utensils ruled overall steady and was quoted at Rs 64.50 a kg on narrow movements.
Bullion: A firm trend was noticed in the local bullion market. Though both the precious metals moved upward, the undertone of the market remained weak.
In white metals, silver .999 and .916 improved by Rs 60 each to Rs 7,955 and Rs 7,830 a kg.
In yellow metals, both standard gold and 22 carat gold firmed up by Rs 15 each to Rs 4,280 and Rs 3,960 per 10 grammes. Gold biscuit prices also firmed up by Rs 300 at Rs 50,400 per piece of gold bar.
