Groundnut oil witnessed an easy to downward trend, while industrial oils ruled subdued at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein showed a steady trend on subdued demand. In the futures section, castorseeds June contract remained untraded while September contract opened lower and eased towards the closing.
Groundnut oil declined by Rs 2 at Rs 358 per 10 kg on reduced demand coupled with better arrivals. Arrivals were put at around 90/100 tonnes per day.
Neem and rapeseed oil refined decreased by Rs 5 and Rs 4 to Rs 190 and Rs 274 per 10 kg respectively on dull industrial offtake followed by brisk arrivals. Sunflower oil expeller and soybean oil refined eased further by Rs 3 and Re 1 to Rs 270 and Rs 294 per 10 kg respectively. Linseed oil firmed up by Rs 2 to Rs 285 per 10 kg on better demand coupled with modest inflows. Imported palmolein ruled steady on the whole and was quoted at Rs 275 per 10 kg on subdued demand.
In the futures section, castorseeds September contract opened Rs 5 lower at Rs 1145.50. It declined to Rs 1140 before closing at Rs 1143.50 a quintal.
Castorseeds Madras and Maharashtra qualities declined by Rs 4 each to Rs 1090 and Rs 1084 a quintal respectively
Sugar: An easy trend was noticed at the wholesale sugar market. Prices of both grades of sugar dipped on lack of buying interest. The market undertone was shaky. Sugar S-30 grade eased to Rs 1410/1440 as against the previous level of Rs 1420/1445 a quintal Sugar M-30 grade dipped to Rs 1450/1490 as against the previous level of Rs 1460/1495 a quintal on subdued offtake.
Non-ferrous metals: A firm to steady trend was noticed in the local non-ferrous market. Industrial demand remained good but arrivals were limited. The trade volume remained modest.
In the scraps section; copper utensils, brass utensils and brass sheetcuttings firmed up by 25 paise each to Rs 111.75, Rs 94.75 and Rs 99.25 a kg respectively on better buying interest from industry circles. Copper heavy scraps and aluminium utensils ruled steady despite narrow movements.
Bullion: A firm-to-upward trend was witnessed in the local bullion market. The undertone of the market was firm. In yellow metals, standard gold and 22-carat gold firmed by Rs 15 and Rs 10 to Rs 4775 and Rs 4415 per 10 grammes respectively on improved demand followed by firm overseas advices. Gold biscuits prices also improved by Rs 100 at Rs 55,800 per 10 tolas
In white metals, silver .999 increased by Rs 5 at Rs 6880 per kg on better offtake while .916 ruled steady and was quoted at Rs 6775 per kg on narrow movements. Delhi advices also indicated a subdued trend.
