Groundnut oil improved further on better consumer demand, whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai yesterday. Imported palmolein ruled firm.
In futures section, castorseeds December97 contract went untraded, while March98 opened lower and eased further towards closing.
Groundnut oil improved by Rs 3 at Rs 367 per 10 kg. Arrivals remained limited.
Linseed oil and cottonseed oil refined improved by Rs 7 and Rs 6 to Rs 325 and Rs 310 per 10 kg respectively. Kardi oil and cotton seed oil washed firmed up by Rs 5 each to Rs 365 and Rs 305 per 10 kg.
Sesame oil and soya oil refined flared by Rs 15 and Rs 19 to Rs 335 and Rs 320 per 10 kg. Imported palmolein shot up by Rs 10 at Rs 298 per 10 kg. Most other oils ruled steady.
In futures section, castorseed March98 contract opened Rs 3 lower at Rs 1171 and firmed up to Rs 1172.50 a quintal. It declined and closed at Rs 1169.50 a quintal.
Castorseeds Madras and Maharashtra eased further by Rs 5 each to Rs 1243 and Rs 1237 a quintal. Kardiseeds and nigerseeds Madras advanced by Rs 25 each to Rs 1350 and Rs 1450 a quintal. All other oilseeds ruled overall steady.
Sugar: A mixed trend was witnessed in sugar prices at Turbhe, Navi Mumbai yesterday. Small grade sugar ruled easy, while medium grade ruled steady.
Sugar S-30 grade eased to Rs 1455/1486 from the previous level of Rs 1460/1486 a quintal.
Sugar M-30 grade ruled overall steady and was nominally quoted at Rs 1475/1531 a quintal on subdued offtake and modest arrivals. Sugar for the check post deliveries was quoted at Rs 1450/1465 a quintal for S-30 grade and Rs 1470/1595 for the M-30 grade.
Cotton: A continuous demand from Panipat mills and private traders pushed up Bengal desi cotton prices further, while staple cotton rates ruled firm on steady demand from local mills in Punjab and Haryana markets yesterday, dealers said. Demand from Bengal desi cotton continued unabated, while there was good demand for staple varieties too, they said. While J-34 cart selected sawgin rates moved to Rs 5010/5224 a quintal from rs 4900/5265 a quintal yesterday, J-34 good average sawgin improved to rs 4768/4900 a quintal from Rs 4680/4975 a quintal yesterday.
Bullion: A divergent trend was noticed in the local bullion market yesterday. Both the precious metals ruled in opposite directions.
Silver .999 and .916 firmed up further by Rs 30 each to Rs 8540 and Rs 8440 a kg respectively on strong overseas advices. Delhi advices indicated a firm trend.
In yellow metals, both standard gold and 22 carat gold eased further by Rs 40 each to Rs 4,100 and Rs 3,790 per 10 gms. Gold biscuit prices declined by Rs 500 at Rs 48,000 per piece of gold bar.
