Groundnut oil ruled easy on reduced demand and brisk arrivals from the upcountry centres, while other industrial oils were easy-to-steady at the wholesale oils and oilseeds market, Turbhe, yesterday.
Imported palmolein slackened further on increased arrivals. The March '97 and the June '97 contracts opened higher but eased towards the close Groundnut oil declined by Rs 2 at Rs 338 per 10 kg on dull demand coupled with improved arrivals. Inflows were around 100/110 tonnes a day.
In other oils, cottonseed oil washed and refined declined by Rs 5 each to Rs 275 and Rs 280 per 10 kg respectively. Kardi oil also eased by Rs 2 at Rs 380 per 10 kg on reduced demand, while Sunflower oil expeller mellowed by Re 1 to Rs 274 per 10 kg on dull offtake. Imported palmolein eased further by Re 1 at 278 per 10 kg on subdued demand. Majority of other oils ruled overall steady on narrow movements.
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The March'97 contract opened Rs 2 higher at Rs 1,137 and but declined to Rs 1,131.50 before closing at Rs 1,133.50 a quintal on speculative shortcoverings. While the June '97 contract opened Re 1 higher at Rs 1,206 a quintal and firmed up to Rs.1207, it slipped to Rs 1,202 before closing at Rs 1,204.
In oilseeds, groundnuts Karad bold and Saurashtra bold declined by Rs 10 each to Rs 1,830 and Rs 1,840 per quintal respectively on reduced industrial demand. Castorseeds Madras and Maharashtra were easy by Rs 4 each to Rs 1,090 and Rs 1,084 a quintal respectively.
The wholesale sugar market at Turbhe witnessed a slightly firm trend yesterday ,with sugar of both the grades moving upward on moderate demand and subdued inflows. The undertone of the market remained weak.
Sugar S-30 grade firmed up to Rs 1235/1275 a quintal from the previous level of 1230/1275, while sugar M-30 grade improved to Rs 1290/1365 from the previous level of 1265/1360 a quintal.
Meanwhile, sugar for check-post deliveries was quoted easy at Rs 1,222/1,240 a quintal for S-30 grade and Rs 1,260/1,330 for the M-30 grade. A firm-to-steady trend continued in the local non-ferrous market yesterday. Scrap metals were firmer with than virgin metals. Industrial demand remained better. The trade volume continued to remained small.
In the scraps section, copper heavy scraps and copper utensils looked up further by 50 paise each to Rs 121 and Rs 107.50 a kg respectively, while brass sheetcuttings jacked up by 75 paise at Rs 91.25 a kg on better industrial demand. Brass utensils firmed up by 25 paise each to Rs 89.50 and Rs 90.50 a kg respectively on better demand. Silver was slightly firmer, while gold ruled steady in the local bullion market yesterday. S ilver .999 and .916 firmed up by Rs 5 each to Rs 7055 and Rs 6955 a kg respectively on better industrial offtake as against moderate arrivals. Delhi advices also witnessed a modest trend.
In yellow metals, standard gold and 22 carat gold ruled overall steady at Rs 4,825 and Rs 4,465 per 10 grams respectively. The demand remained moderate. Gold biscuit prices also remained static at Rs 56,400 per piece of 10 tolas on subdued consumer demand.