Groundnut oil continued its advance while other industrial oils ruled easy-to-steady yesterday at the wholesale oils and oilseeds market. Imported palmolein ruled firm. In futures, castorseeds June contract opened lower and eased further towards closing. New September '98 contract resumed yesterday.
Groundnut oil climbed Rs 5 at Rs 431 per 10 kg on shortage of ready stock and limited inflows from producing centres. Arrivals were put at 75/80 tonnes a day.
Kardi oil declined by Rs 5 to Rs 545 per 10 kg. Rapeseed oil refined and sunflower oil expeller advanced by Rs 5 each to Rs 390 and Rs 415 per 10 kg respectively. Castor oil - commercial and BSS varieties eased by Re 1 each to Rs 280 and Rs 292 per 10 kg respectively. Imported palmolein firmed up by Rs 3 to Rs 393 per 10 kg.
In the futures market, castorseeds June contract opened Rs 2 lower at Rs 1280.50 a quintal. It later declined to close at Rs 1268 a quintal. September contract opened at Rs 1330.50 a quintal and held steady.
Castorseeds Madras and Maharashtra declined by Rs 4 each to Rs 1248 and Rs 1242 a quintal. Nigerseeds Madras firmed up by Rs 25 at Rs 1600 a quintal.
Sugar: An easy-to-subdued trend was seen in the wholesale sugar market yesterday. The undertone was weak. Sugar S-30 grade ruled subdued at Rs 1515/1540 against the previous level of Rs 1520/1535 a quintal on easy availability of ready stock. Sugar M-30 eased to Rs 1525/1585 (Rs 1535/1585) a quintal.
Sugar for the check-post deliveries was quoted lower at Rs 1505/1510 a quintal for the S-30 grade and Rs 1520/1550 a quintal for the M-30 grade.
Non-ferrous metals: An easy-to-steady trend was noticed in the non-ferrous metals market yesterday.
In scraps section, copper heavy scraps declined by 50 paise, while copper utensils and brass utensils eased by 25 paise each to Rs 113.50, Rs 99 and Rs 88.50 a kg respectively on increased stock against limited industrial demand. Other metals were quoted as under: brass sheetcuttings Rs 92 and aluminium utensils Rs 62.50 a kg respectively.
In virgin section, tin slabs and nickel cathodes declined by Rs 4.00 each to Rs 353 and Rs 311 a kg respectively. Copper wirebar eased by 50 paise at Rs 129 a kg. Other metals were quoted as under: aluminium ingots Rs 82, zinc slabs Rs 74.50 and lead ingots Rs 42 a kg respectively.
Bullion: A divergent trend witnessed in the local bullion market yesterday. In white metals, silver .999 and .916 recovered by Rs 45 and Rs 50 to Rs 8,420 and Rs 8,315 a kg respectively.
In yellow metals, both standard gold and 22 carat gold eased by Rs 5 and Rs 10 to Rs 4,100 and Rs 3,790 per 10 grammes respectively on dull consumer demand. Gold biscuit prices also weakened by Rs 100 at Rs 48,100 per piece.
