Groundnut oil continued to improve on better demand and restricted arrivals while other industrial oils ruled easy-to-steady on the wholesale oils and oilseeds market here yesterday.
Imported palmolein further firmed up on modest demand. In the futures section, castorseeds December 97 contract remained untraded, while March 98 opened higher and hardened towards closing. Groundnut oil advanced by Rs 5 at Rs 349 per 10 kg.
Good buying by consumers and a reduction in palmolein import pressure on account of the rupee devaluation have pushed up groundnut oil prices, said Navinchandra Shah, president, Bombay Oilseeds and Oils Exchange.
In other oils, linseed and kardi shot up by Rs 15 each to Rs 300 and Rs 340 per 10 kg respectively. Sunflower oil expeller, mowra oil and sesame oil advanced by Rs 10, Rs 3 and Rs 5 each to Rs 320, Rs 235 and Rs 305 per 10 kg respectively. Copra oil white declined by Rs 5 to Rs 570 per 10 kg. Imported palmolein firmed up by Re 1 at Rs 276 per 10 kg. The majority of other oils ruled overall steady.
Castorseed March 98 contract opened Rs 3 higher at Rs 1,168.50 and firmed up to Rs 1,173 a quintal. It declined to Rs 1,168.50 before closing at Rs 1,173.
In oilseeds, kardi seeds and nigerseeds improved further by Rs 10 each to Rs 1,185 and Rs 1,385 a quintal respectively. All other oilseeds ruled overall steady on narrow movements.
Sugar: An easy-to-downward trend was seen in sugar prices here yesterday. Both grades of sugar ruled easy. The market undertone remained hesitant.
Sugar S-30 declined further to Rs 1,471/1,490 from Rs 1,471/1,496 a quintal earlier. Sugar M-30 eased to Rs 1,490/1,526 against the previous close of Rs 1,505/1,545 a quintal.
Sugar for the checkpost deliveries were quoted low at Rs 1,455/1,470 a quintal for S-30 and at Rs 1,475/1,500 for M-30.
Non-ferrous metals: Nickel cathode prices saw a recovery at the reduced level while tin weakened further here yesterday. The market undertone remained hesitant. Nickel cathodes improved by Rs 4 to Rs 320 per kg. Tin slabs fell further by Rs 3 at Rs 335 a kg. All other metals ruled overall steady. Copper wirebars was quoted at Rs 119 a kg, aluminium ingots at Rs 82.50, zinc slabs Rs 75 and lead ingots at Rs 40 a kg.
In scraps, brass utensils firmed up by 75 paise at Rs 83 a kg. Copper heavy scraps was quoted at Rs 108 a kg, copper utensils at Rs 96, brass sheetcuttings Rs 89.25 and aluminium utensils at Rs 62.50 a kg.
Bullion : Gold prices showed a firm trend on the local bullion market here yesterday. The market undertone, however, remained weak.
Standard gold and .22 carat recovered by Rs 30 and Rs 25 to Rs 3,930 and Rs 3,635 per 10 grams respectively on better overseas advices and improved local demand. Gold biscuit prices too improved by Rs 300 at Rs 45,900 per piece.
