Groundnut oil and linseed oil rates were subdued on the oilseeds market today due to increased arrivals and weak trends in the producing regions, while other seeds and oil finished steady.
Groundnut oil suffered a setback owing to increased supplies from the producing regions as compared to sluggish local offtake. Linseed oil finished easier in the absence of support from the paint industry. Elsewhere, coconut oil declined sharply on weak advices from Cochin, dealers said.
The following were today's quotations. (previous rates in brackets): Groundnut oil (10 kg) Rs 353.00 (Rs.354.00), castor oil commercial (10 kg) Rs 248.00 (Rs.248.00), castorseed Madras (per quintal) Rs.1094.00 (Rs.1094.00), linseed oil (10 kg) Rs.278.00 (Rs.280.00), palm oil (10 kg) Rs.265.00 (Rs.270.00) and coconut oil (10 kg) Rs.575.00 (Rs.565.00), castorseed september contract (per quintal) Rs 1131.50 (Rs 1131.00).
Sugar: Sugar prices held steady yesterday in a narrow trading range with consumer and retail demand remaining low, dealers said. In ready delivery sugar S-30 was quiet at Rs 1,442/1,475 per quintal and sugar M-30 at Rs 1,465/1,510 per quintal. Mill delivery prices remained steady at Rs 1,380/1,390 per quintal for S-30 and at Rs 1,400/1,410 per quintal for M-30.
Outstation buying at the mill level remained scattered and millers witnessed little interest from the Gujarat region. "Except the Gujarat region, outstation demand from mills in other states was virtually nil," one miller said.
"Traders were expecting prices to move in a narrow range upto month end. Prices may look up in the first week of July due to a lower free sale quota," one broker said. The free sale quota for July is 750,000 tonnes against 800,000 tonnes this month.
Non-ferrous metals: Copper prices on Thursday fell on profit-taking as world markets showed easing trends, dealers said. Other base metals were steady in a narrow price band.
Copper prices fell by Rs 50 at Rs 13,800 against a fall of Rs 25 on Wednesday. Sluggish industrial buying also subdued market sentiment. Nickel was steady at a reduced level of Rs 35,400 per quintal after losing Rs 200 on Wednesday. Zinc was quoted at the previous level of Rs 8,100 per quintal. Other metals ruledunchanged.
Bullion: Silver prices declined and gold prices edged up in a mixed bullion market here yesterday. The white metal softened by Rs 20 per kilo in all three qualities owing to sustained selling pressure from stockists in the wake of increased supplies from imports as against poor industrial offtake. Weak upcountry advices partly dampened sentiment.
Gold, improved modestly on scattered local buying at lower levels and aided by better overseas advices. Silver ready .999 fineness dropped by Rs 20 to Rs 6730 from Rs 6750 on Wednesday. Raw silver .916 fineness and tenderable silver also declined by the same margin of Rs 20 to close at Rs 6630 and Rs 6735 respectively due to lack of industrial demand.
Standard gold edged up five rupees to Rs 4595 from Rs 4590 yesterday. 22-carat gold was nominally quoted higher at Rs 4250 from Rs 4245. Ten-tola gold bar .999 purity finished steadier at its previous level of Rs 53,700.
