Groundnut oil recovered on better demand coupled with reduced arrivals, while other industrial oils ruled steady at the wholesale oils and oilseeds market in Turbhe, Navi Mumbai, yesterday. Imported palmolein was in a groove on slack demand and was quoted at Rs 299 per 10 kg.
Groundnut oil rose by Rs 2 at Rs 352 per 10 kg. Arrivals from the producing centres remained limited at around 90 tonne a day. Linseed oil and sesame oil declined by Rs 5 each to Rs 325 and Rs 350 per 10 kg, respectively on dull industrial offtake and better availability of ready stock. Mowra oil and copra oil white improved by Rs 8 and Rs 5 to Rs 248 and Rs 540 per 10 kg, respectively on better offtake. Ricebran oil firmed up by Rs 5 to Rs 180 per 10 kg. In the futures section, castorseeds March '98 contract opened Rs 3 lower at Rs 1,173.50 a quintal and held steady at the same level. It declined and closed at 1,169.50 a quintal
Sugar: An easy-to-subdued trend was noticed in sugar prices on subdued consumer offtake and limited arrivals
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Both the grades of sugar ruled easy-to-subdued. The undertone of the market remained dull.
Sugar M-30 grade eased to Rs 1,480/1,521 as against the previous level of Rs 1,488/1,526 a quintal . Sugar S-30 grade weakened to Rs 1,461/1,481 against the previous level of Rs 1,461/1,486 a quintal Meanwhile, sugar for the check post deliveries were quoted low at Rs 1,440/1,460 a quintal for S-30 grade and Rs 1,465/1,500 for the M-30 grade.
Non-ferrous metals: An easy-to-steady trend was noticed in the local non-ferrous metals market yesterday. The undertone remained hesitant.
In virgin metals, nickel cathodes firmed up by Re 1 at Rs 328 a kg on limited arrivals. Copper wirebar and zinc slabs eased by 50 paise and 25 paise to Rs 115 and Rs 71.75 a kg, respectively. Meanwhile, all the other metals ruled totally quiet and were nominally quoted as under: aluminium ingots Rs 82, lead ingots Rs 39.50 and tin slabs Rs 326 a kg, respectively. In scraps section, copper heavy scraps and copper utensils declined by 50 paise each to Rs 105.50 and Rs 94.25 a kg respectively. Brass utensils and brass sheet cuttings eased by 25 paise each to Rs 82.50 and Rs 88 a kg, respectively Aluminium utensils ruled overall steady, and were nominally quoted at Rs 62.50 a kg on narrow movements.
Bullion: A mixed trend was noticed in the local bullion market yesterday. Silver declined further while gold ruled overall steady. The undertone remained weak.
In white metals, silver .999 and .916 declined further by Rs 60 each to Rs 8,040 and Rs 7,940 a kg, respectively.
In yellow metals, both standard gold and 22 carat gold ruled overall steady and were nominally quoted at Rs 3,985 and Rs 3,685 per 10 grams. Gold bar was quoted at Rs 46,600 per piece.