Groundnut oil ruled slightly firm on subdued arrivals from the producing centres coupled with better demand whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled easy on subdued demand.
Groundnut oil looked up by Re one at Rs 361 per 10 kg on modest consumer demand. Arrivals from the producing centres remained at around 90 tonne a day.
In other oils, coconut oil white improved by Rs 10 to Rs 550 per 10 kg. Soya oil refined and sunflower expeller firmed up by Re one and Rs 3 to Rs 311 and Rs 335 per 10 kg respectively. Imported palmolein looked up by Re one to Rs 304 per 10 kg on better movements.
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In futures section, castorseeds March '98 contract opened Rs 1.50 lower at Rs 1171.50 and firmed up to Rs 1174 a quintal. It later declined to Rs 1170.50 before closing at Rs 1173.50 a quintal on speculative movements. June contract opened Rs 7 up at Rs 1215 a quintal, and ruled overall steady at the same level. In oilseeds, castorseeds Madras and Maharashtra receded by Rs 3 each to Rs 1207 and Rs 1201 a quintal respectively.
Sugar: A firm trend was noticed in sugar prices on modest consumer offtake coupled with normal arrivals atTurbhe, Navi Mumbai yesterday. The undertone of the market remained dull.
Sugar S-30 grade firmed up to Rs 1440/1470 against the previous level of Rs 1430/1451 a quintal. Sugar M-30 grade looked up further to Rs 1455/1530 as against the previous level of Rs 1455/1520 a quintal.
Meanwhile, sugar for the checkpost deliveries were quoted firm at Rs 1418/1435 a quintal for S-30 grade and Rs 1435/1460 for the M-30 grade.
Non-ferrous metals: A steady trend was noticed in the local non-ferrous metals market yesterday. The demand remained dull, and the undertone remained hesitant.
In scraps section, all the metals ruled overall steady, and were nominally quoted as under : copper heavy scraps Rs 106.25, copper utensils Rs 94.75, brass utensils Rs 83.75, brass sheetcuttings Rs 88.50 and aluminium utensils Rs 62.50 a kg respectively.
In virgin metals, all the metals ruled quiet, and were nominally quoted as under : copper wirebar Rs 116.25, aluminium ingots Rs 82, zinc slabs Rs 71.50, lead ingots Rs 40, tin slabs Rs 335 and nickel cathodes Rs 327 a kg respectively.
Bullion: An upward-to-firm trend continued in the local bullion market yesterday.
In white metals, silver .999 and .916 advanced further by Rs 35 each to Rs 8,470 and Rs 8,370 a kg respectively.
In yellow metals, both standard gold and 22 carat gold firmed up further by Rs 25 and Rs 20 at Rs 4,050 and Rs 3,745 per 10 grammes. Gold biscuit prices also firmed up further by Rs 300 at Rs 47,400 per piece of bar.