Groundnut oil continued to advance yesterday on restricted arrivals from Gujarat due to unfavourable weather conditions. Demand was subdued. Other industrial oils ruled better-to-steady. In the futures section, castorseeds June contract was untraded while September contract eased towards close.
Groundnut oil firmed up by Rs 2 at Rs 464 per 10 kg. Arrivals were put at around 80 tonnes a day. Mowra oil, copra oil white, neem oil and rice bran oil improved by Rs 5 each to Rs 335, Rs 465, Rs 225 and Rs 235 per 10 kg respectively. Rapeseed oil refined and sunflower oil expeller shot up by Rs 6 and Rs 7 to Rs 408 and Rs 415 per 10 kg respectively.
Cottonseed oil washed and refined firmed up by Rs 2 and Rs 3 to Rs Rs 407 and Rs 410 per 10 kg respectively. Castor oil commercial and BSS qualities eased by Rs 2 each to Rs 304 and Rs 316 per 10 kg respectively. Imported palmolein ruled steady and was nominally quoted at Rs 382 per 10 kg.
In the futures market, castorseeds September contract opened Rs 4 lower at Rs 1397.50 a quintal and went up to Rs 1401. It declined to Rs 1397.50 before closing at Rs 1400.50 a quintal on speculative movements. In oilseeds, castorseeds Maharashtra and Madras declined by Rs 10 each to Rs 1363 and Rs 1357 a quintal respectively.
Sugar: A steady-to-firm trend was witnessed in sugar prices yesterday.
Sugar S-30 grade eased to Rs 1445/1470 (Rs 1443/1480) a quintal on subdued demand coupled with easy arrivals. Sugar M-30 firmed to at Rs 1470/1505 (Rs 1460/1505 )a quintal.
Sugar for the check-post deliveries were quoted lower at Rs 1430/1435 a quintal for S-30 grade and Rs 1445/1475 a quintal for the M-30 grade.
Non-ferrous Metals: A firm-to-steady trend noticed in non-ferrous metals yesterday.
In scraps, copper utensils firmed up further by 25 paise at Rs 114.50 a kg on limited stock position against better industrial demand. Other metals were nominally quoted as under : copper heavy scraps Rs 118.50, brass utensils Rs 90.50, brass sheetcuttings Rs 94.00 and aluminium utensils Rs 64 a kg respectively.
In the virgin section, tin slabs improved by Rs 2 at Rs 372 a kg. Other metals were nominally quoted as under : copper wirebar Rs 133.50, aluminium Rs 82.50, zinc slabs Rs 81.25, lead ingots Rs 43.25, and nickel cathodes Rs 299 a kg respectively.
Bullion: An easy-to-steady trend was noticed in the bullion market yesterday.
Silver .999 ruled steady and was nominally quoted at Rs 7850 a kg while silver .916 climbed Rs 10 at Rs 7,700 a kg on reduced inflows on account of higher landed cost of imported goods.
In yellow metals, standard gold and 22 carat gold eased by Rs 5 each to Rs 4,225 and Rs 3,910 per 10 grammes respectively on weak overseas advices. Consumer demand remained subdued at improved levels. Gold biscuit prices moved up marginally by Rs 100 at Rs 49,800 per piece of gold bar.
