Groundnut oil ruled easy on subdued demand coupled with moderate arrivals from the upcountry centres yesterday whereas other industrial oils ruled easy to steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai. Imported palmolein ruled firm on modest arrivals. In future section, castorseeds March97 contract remained untraded while June97 contract opened slightly higher but eased towards closing.
Groundnut oil eased by Re.1 at Rs 343 per 10 kg on subdued consumer offtake coupled with modest arrivals. Arrivals were put about 100 tonnes a day.
In other oils, cottonseed oil washed and refined qualities eased by Re 1 and Rs 2 to Rs 272 and Rs 277 per 10 kg respectively on reduced industrial demand coupled with improved inflows. Sesame oil and coconout oil white declined by Rs 3 and Rs 5 to Rs 295 and Rs 680 per 10 kg respectively on reduced industrial demand coupled with modest arrivals. Soya oil refined and sunflower oil expeller eased by Rs 2 and Rs 3 to Rs 278 and Rs 264 per 10 kg respectively on easy demand. Imported palmolein firmed up by Re 1 at Rs 278 per 10 kg on subdued offtake. Meanwhile, majority of other oils ruled overall steady on narrow movements.
Also Read
In futures, castorseeds June97 contract opened 50 paise up at Rs 1,195 and ruled at the same level. It declined to Rs 1,185.50 before closing at 1,186 a quintal on speculative shortcoverings. In oilseeds, kardiseeds eased by Rs 15 to Rs 1,125 per quintal on dull industrial offtake. Meanwhile, all the other oilseeds ruled overall steady on narrow movements.
Sugar: A slightly firm to upward trend prevailed in sugar prices at the wholesale sugar market. The declaration of lower sugar quota for April turned the market sentiment. Demand remained better against subdued inflows. The undertone of the market was not firm. Sugar S-30 grade firmed up to Rs 1,290/1,315 a quintal as against the previous level of Rs 1,285/1,315 a quintal on better demand and moderate arrivals. Sugar M-30 grade improved to Rs 1,320/1,385 from the previous level of Rs 1,320/1,383 a quintal on better offtake. Meanwhile, sugar for the check post deliveries were quoted easy at Rs 1,260/1,275 a quintal for S-30 grade and Rs 1,285/1,340 for the M-30 grade.
Non-ferrous Metals: An overall steady to subdued trend was noticed in the local non-ferrous market. Industrial demand remained slack. The trade volume remained small. In virgin section, zinc slabs improved by 50 paise to Rs 76.50 per kg on improved industrial demand coupled with reduced arrivals. All other metals ruled overall steady on narrow movements. In scraps section, all the metals like copper heavy scraps, copper utensils, brass utensils, brass sheetcuttings and aluminium utensils ruled steady on narrow movements and were nominally quoted.
Bullion: A firm to better trend was noticed in the local bullion market. Both the precious metals firmed up on better overseas advices. In white metals, silver .999 and .916 improved by Rs 30 each to Rs 7,450 and Rs 7,350 a kg respectively on firm advices of the London bullion market coupled with better demand and modest arrivals.