A firm trend was noticed in groundnut oil while most other edible oils ruled easy-to-subdued at the wholesale oils and oilseeds market yesterday. Imported palmolein ruled firm. In futures, September `98 contract remained untraded, while December'98 contract opened higher but eased towards closing.
Groundnut oil edged up by Rs 3 at Rs 600 per 10 kg on improved consumer demand on account of the festive season. Castor oil commercial and BSS qualities recovered by Rs 6 each to Rs 452 and Rs 464 per 10 kg respectively. Linseed oil declined by Rs 15 at Rs 450 per 10 kg while kardi oil improved by Rs 10 at Rs 600 per 10 kg. Sesame and ricebran oil looked up by Rs 5 and Rs 3 to Rs 440 and Rs 228 per 10 kg respectively. Imported palmolein firmed up by Re 1 at Rs 388 per 10 kg on improved offtake against limited availability.
In futures, December contract opened Rs 18 higher at Rs 1,767 a quintal before declining to close at Rs 1761 a quintal.
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In oilseeds, castorseeds Madras and Maharashtra gained by Rs 29 each to Rs 2,074 and Rs 2,068 a quintal respectively. Nigerseeds Madras declined by Rs 25 at Rs 1925 a quintal on sluggish industrial offtake against easy availability of the stock.
Sugar: A firm condition was witnessed yesterday with both grades ruling firm on improved demand backed by the government's lower quota of levy sugar for October.
S-30 firmed up to Rs 1440/1475 a quintal from the previous level of Rs 1440/1460. Consumer demand was better against limited supplies. Arrivals from the upcountry centres were moderate. M-30 improved to Rs 1455/1520 (Rs 1460/1515) a quintal. Sugar for check-post deliveries was quoted higher at Rs 1420/1430 a quintal for S-30 grade and Rs 1435/1445 a quintal for M-30.
Non-ferrous metals: Quiet conditions prevailed. In scraps, all metals ruled overall steady and were nominally quoted as under : copper heavy Rs 102.50, copper utensils Rs 92.00, brass utensils Rs 85.00, brass sheetcuttings Rs 87.00 and aluminium utensils Rs 63.50 a kg respectively.
In virgin metals, copper wirebar was quoted at Rs 116.50, aluminium ingots Rs 86.00, zinc slabs Rs 78.50, lead ingots Rs 45.50, tin slabs Rs 386 and nickel cathodes Rs 255 a kg respectively.
Bullion: A divergent trend was seen yesterday.
Silver .999 and .916 declined by Rs 25 and Rs 40 to Rs 7675 and Rs 7535 a kg respectively on weak overseas advices. Demand was dull against easy inflows. Delhi advices also indicated weak trends. Standard gold and 22 carat gold looked up by Rs 10 each to Rs 4280 and Rs 3960 per 10 grams respectively. Demand was better on account of the festive season. Gold biscuits prices hardened further at Rs 50,600 per piece of gold biscuit.