Groundnut oil shot up yesterday on reduced arrivals at the wholesale oils and oilseeds market here. The market is a facing short supply of edible oils because of the non-release of imported edible oil on account of a strike by clearing and forwarding agent staff at the docks.
Arrivals from Gujarat have also dwindled. Groundnut oil soared by Rs 10 at Rs 476 per 10 kg on paucity of ready stock. Kardi oil and Mowra oil improved by Rs 5 each to Rs 585 and Rs 340 per 10 kg respectively. Sesame oil and Copra oil white jumped by Rs 10 and Rs 20 to Rs 430 and Rs 475 per 10 kg respectively. Neem oil, karanji oil and soya oil refined looked up by Rs 5 each to Rs 235, Rs 195 and Rs 410 per 10 kg respectively on improved industrial demand. Castor oil commercial and BSS qualities firmed up by Re 1 each to Rs 309 and Rs 321 per 10 kg respectively. Imported palmolein flared up by Rs 10 at Rs 400 per 10 kg on reduced arrivals against better industrial demand. In the futures market, castorseeds September contract opened 50 paise up at Rs 1411 a quintal and closed at Rs 1411 a quintal on speculative movements.
Castorseeds Maharashtra and Madras advanced further by Rs 5 each to Rs 1387 and Rs 1381 a quintal respectively.
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Sugar: A steady-to-subdued trend was witnessed in prices at the wholesale sugar market yesterday. Both the grades ruled subdued. S-30 ruled at Rs 1461/1475 a quintal as against Rs 1455/1475 on Monday.
M-30 ruled subdued at Rs 1472/1510 a quintal Sugar for the check-post deliveries were quoted lower at Rs 1440/1450 a quintal for S-30 and Rs 1460/1490 a quintal for the M-30.
Non-ferrous Metals: Tin prices firmed up while most other prices eased at the local non-ferrous metals market yesterday. Copper heavy scraps, copper utensils and brass utensils declined by 50 paise each to Rs 117, Rs 104 and Rs 89.75 a kg.respectively. Aluminium utensils ruled steady and were nominally quoted at Rs 64 a kg. In the virgin section, tin slabs improved further by Rs 2 at Rs 380 a kg. Nickel cathodes eased by Rs 2 at Rs 294, and copper wirebar and zinc slabs slid by 50 paise each to Rs 132 and Rs 80.00 a kg respectively. movements.
Bullion : Silver continued to rule divergent while gold firmed up further in the local bullion market yesterday. The undertone remained weak.
Silver 999 declined by Rs 10 at Rs 7,675 a kg on weak overseas advices coupled with subdued industrial demand, while silver .916 firmed up by Rs 10 at Rs 7,545 a kg.
Both standard and 22 carat gold firmed up further by Rs 10 and Rs 5 to Rs 4,165 and Rs 3,850 per 10 grams respectively. Gold biscuit prices improved further by Rs 100 at Rs 48,900 per piece of gold bar.