Groundnut oil declined further at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday due to lower offtake and brisk arrivals from producing centres. However, industrial oils ruled easy to subdued. Imported palmolein also ruled weak on dull demand. In the futures section, castorseeds June 97 contract opened lower but soared towards closing.
Groundnut oil declined further by Rs 3 at Rs 361 per 10 kg on dull demand coupled with improved arrivals. Arrivals were put at more than 100 tonnes a day.
Mowra and sesame oil declined by Rs 5 each to Rs 285 and Rs 320 per 10 kg respectively on reduced industrial demand coupled with better inflows. Copra oil white firmed up by Rs 5 to Rs 585 per 10 kg on improved industrial demand. Mowra oil and sunflower oil expeller declined by Rs 5 each to Rs 285 and Rs 280 per 10 kg respectively on reduced industrial interest. Imported palmolein declined further by Rs 3 at Rs 288 per 10 kg on easy demand. In futures, castorseeds June 97 contract opened Rs 5 lower at Rs 1,110 and flared up to Rs 1,135 a quintal. It declined to Rs 1,110 before closing at Rs 1,133 a quintal on improved offerings.
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In oilseeds, nigerseeds Madras improved further by Rs 25 at Rs 1,450 per quintal on improved industrial demand coupled with restricted availability. Castorseeds Madras and Maharashtra qualities declined by Rs 10 each to Rs 1,099 and Rs 1,093 a quintal respectively on reduced demand and better inflows.
Sugar: A firm to upward trend was noticed at the wholesale sugar market. Small and medium grade sugar showed an upward trend.
Sugar S-30 grade firmed up to Rs 1,375/1,430 as against the previous level of Rs 1,375/1,425 a quintal on better demand and modest arrivals. While sugar M-30 grade improved to Rs 1,435/1,505 from the previous level of Rs 1,425/1,490 a quintal on improved offtake. Sugar for the check post deliveries was quoted easy at Rs 1,370/1,380 a quintal for S-30 grade and Rs 1,400/1,440 for the M-30 grade.
Non-ferrous metals: An easy to steady trend continued in the local non-ferrous market. Industrial demand remained dull to subdued. Trade volumes were also small.
In the virgin section, zinc slabs and lead ingots eased by 50 paise and Re 1 at Rs 78 and Rs 42.50 a kg respectively on reduced industrial demand and improved arrivals. All metals ruled steady on the whole due to narrow movements and were quoted as under: copper wirebar Rs 135, aluminium ingots Rs 74.50, tin slabs Rs 312 and nickel cathodes Rs 361 a kg. In the scraps section, all the metals ruled steady and were quoted as under: copper heavy scraps Rs 121.50, copper utensils Rs 109.50, brass utensils Rs 92.75, brass sheet cuttings Rs 96.75 and aluminium utensils Rs 59 a kg.
Bullion: A firm to upward trend was noticed in the local bullion market. Both the precious metals looked up on better consumer as well industrial demand coupled with firm overseas advices. The festive demand turned better against limited arrivals.
In white metals, silver .999 and .916 soared by Rs 85 each to Rs 6,880 and Rs 6,780 a kg respectively on improved industrial demand coupled with modest arrivals. The overseas advices also showed a firm trend. Delhi advices also indicated a better trend.
In yellow metals, standard gold and 22-carat gold improved by Rs 15 each to Rs 4,765 and Rs 4,410 per 10 grams respectively on improved offtake with moderate arrivals. Gold biscuit prices improved by Rs 200 at Rs 55,700 per piece of 10 tolas on dull trades.