Groundnut oil recovered at the reduced level while most other edible oils ruled easy-to-steady at the wholesale oils and oilseeds market here yesterday. Imported palmolein too stayed easy.
In the futures market, castorseeds December contract was untraded while the March `99 contract opened lower and lost further ground towards close.
Groundnut oil recovered by Rs 8 at Rs 410 per 10 kg. Linseed and karanji oil fell by Rs 5 and Rs 10 to Rs 460 and Rs 300 per 10 kg respectively. Soya oil refined and sesame oil weakened by Rs 6 and Rs 15 to Rs 345 and Rs 435 per 10 kg. Cottonseed oil washed and refined slipped further by Rs 8 each to Rs 348 and Rs 350 per 10 kg respectively.
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Imported palmolein softened further by Re 1 at Rs 345 per 10 kg . The majority of other oils ruled overall steady.
In the futures market, March `99 contract opened Rs 15 lower at Rs 1,460 and ruled steady before declining to close at Rs 1,458.
In oilseeds, kardi and sesame improved by Rs 50 and Rs 100 to Rs 1,850 and Rs 2,600 a quintal respectively. Nigerseeds Madras eased further by Rs 25 to Rs 1,700 a quintal.
Sugar: A firm-to-upward trend was witnessed in sugar prices at the wholesale sugar market here yesterday. The prime minister's announcement of import duty on sugar changed market sentiment. Both grades ruled firm..
Sugar S-30 looked up to Rs 1,440-1,455 a quintal against its previous close of Rs 1,425-1,460. Sugar M-30 firmed up to Rs 1,460-1,515 against its previous close of Rs 1,451-1,509 a quintal. Sugar for the check-post deliveries were quoted higher at Rs 1,418-1,435 a quintal for S-30 and Rs 1,445-1,460 a quintal for M-30.
Non-ferrous metals: A quiet conditions was in evidence on the local non-ferrous metals market here yesterday.
In scraps all metals ruled overall steady. Copper heavy scraps was quoted at Rs 102.50 a kg, copper utensils at Rs 89.50, brass utensils Rs 79.50, brass sheetcuttings at Rs 84 and aluminium utensils at Rs 64 a kg respectively.
In virgins, all metals ruled overall steady. Copper wirebar was quoted at Rs 114.50 a kg, aluminium ingots at Rs 86, zinc slabs at Rs 71, lead ingots at Rs 39, tin slabs Rs 375 and nickel cathodes at Rs 258 a kg respectively.
Bullion: A weak trend was noticed in both the precious metals on the local bullion market.
In white metal, silver .999 and .916 declined drastically by Rs 240 and Rs 255 to Rs 7,160 and Rs 7,040 a kg respectively.
In yellow metal, both standard and .22 carat gold eased by Rs 10 each to Rs 4,305 and Rs 3,980 per 10 grammes respectively on dull overseas advices coupled with moderate demand in the local market. Gold biscuit prices too fell Rs 200 at Rs 50,500 per piece.