An upward to firm trend was seen in groundnut oil yesterday on modest arrivals from producing centres. Other industrial oils ruled easy-to-steady at the wholesale oils and oilseeds market in Turbhe yesterday.
Groundnut oil firmed up by Rs 2 at Rs 405 per 10 kg on better consumer demand. Kardi oil advanced by Rs 15 and Rs 5 to Rs 540 and Rs 405 per 10 kg. Cottonseed oil washed and refined was up by Rs 2 each to Rs 378 and Rs 380 per 10 kg.
Copra oil white declined by Rs 30 at Rs 450 per 10 kg. Sunflower oil expeller firmed up by Rs 2 at Rs 390 per 10 kg. Imported palmolein ruled overall steady at Rs 371 per 10 kg on narrow movements. Most other oils ruled steady.
In the futures market, castorseeds June contract opened Rs 11 higher at Rs 1,269 a quintal and improved to Rs 1,278.50. It declined to Rs 1,269 before closing at Rs 1,276.50 a quintal.
In oilseeds, castorseeds Madras and Maharashtra improved by Rs 9 each to Rs 1,243 and Rs 1,237 a quintal. Nigerseeds firmed up Rs 25 at Rs 1,575 a quintal. Meanwhile, all the other oilseeds ruled overall steady.
Sugar: A firm trend was witnessed in sugar prices over rumours of levy being imposed on imported sugar. Both the grades of sugar ruled upward. With the Union government imposing import duty at the rate of 5 per cent along with CVD at Rs 850 a tonne on imported sugar will lead to reduction in sugar imports.
Sugar S-30 grade improved to Rs 1,510/1,540 against the previous Rs 1,475/1,495 a quintal. Sugar M-30 firmed up to Rs 1,535/1,575 against the last level of Rs 1,500/1,540 a quintal. Meanwhile, sugar for the check-post deliveries was quoted lower at Rs 1,500/1,510 a quintal for S-30 grade and Rs 1,525/1,540 a quintal for the M-30 grade.
Non-ferrous metals: Copper and brass ruled firm. Others ruled steady in the local non-ferrous metals market. The demand remained modest.
In the scraps section, copper heavy scraps and copper utensils improved by Rs 1.50 to Rs 109.50 and Rs 95.50 a kg respectively, whereas brass utensils and brass sheetcuttings firmed up 25 paise each to Rs 85.50 and Rs 89.50 a kg. Aluminium utensils ruled steady and were quoted at Rs 62 a kg.
In the virgin section, copper wirebar firmed up by Re 1 at Rs 123 a kg. Other metals ruled steady and were quoted as under: aluminium ingots Rs 82, zinc slabs Rs 73.50, lead ingots Rs 41.25, tin slabs Rs 350 and nickel cathodes Rs 315 a kg.
Bullion: A weak trend was noticed in the local bullion market. Precious metals ruled dull. Silver .999 and .916 declined by Rs 95 and Rs 90 to Rs 8,630 and Rs 8,510 a kg. Standard gold and 22-carat eased by Rs 35 each to Rs 4,205 and Rs 3,890 per 10 grams respectively. Gold biscuit prices declined by Rs 400 at Rs 49,300 per piece of gold bar.
