Groundnut oil held steady on modest arrivals backed by subdued demand whereas other industrial oils ruled better-to-steady at the wholesale oils and oilseeds market, Turbhe, Navi Mumbai, yesterday. Imported palmolein improved at reduced levels.
Groundnut oil ruled overall steady, and was nominally quoted at Rs 371 per 10 kg on modest consumer demand and normal arrivals from the producing centres. Arrivals were put at around 90/100 tonne a day.
In other oils, castor oil commercial and BSS qualities eased further by Rs two each to Rs 273 and Rs 285 per 10 kg respectively on subdued offtake. Linseed oil and mowra oil declined by Rs five each to Rs 325 and Rs 255 per 10 kg respectively.
Coconut oil white and ricebran oil eased by Rs 10 and Rs three to Rs 490 and Rs 182 per 10 kg respectively. Imported palmolein advanced by Rs four at Rs 323 per 10 kg.
In the futures section, castorseeds March '98 contract opened Rs 5.50 lower at Rs 1230.50 a quintal, and closed at Rs 1215 a quintal. June contract opened Rs five lower at Rs 1267.50 a quintal, declined to Rs 1256 before closing at Rs 1256.50 a quintal.
Sugar: A weak trend continued to prevailed in sugar prices on lower consumer offtake coupled with brisk arrivals at Turbhe, Navi Mumbai, yesterday.
Sugar S-30 grade declined further to Rs 1420/1445 from the previous level of Rs 1425/1469 a quintal Sugar M-30 grade dipped further to Rs 1440/1515 as against the previous level of Rs 1445/1519 a quintal.
Meanwhile, sugar for the checkpost deliveries were quoted lower at Rs 1410/1420 a quintal for S-30 grade and Rs 1425/1470 for the M-30 grade.
Non-ferrous metals: A weak-to-downward trend was noticed in the local non-ferrous metals market yesterday.
In virgin metals, nickel cathodes and zinc slabs declined further by Rs three and 25 paise to Rs 312 and Rs 71 a kg respectively. Meanwhile, all the other metals ruled overall steady, and were nominally quoted as under : copper wirebar Rs 114.50, aluminium ingots Rs 82, lead ingots Rs 40 and tin slabs Rs 345 a kg respectively on narrow movements.
Bullion: Silver declined further at higher levels on weak overseas advices coupled with better arrivals, and gold also ruled easy-to-subdued in the local bullion market yesterday.
In white metals, silver .999 and .916 declined by Rs 105 and Rs 170 to Rs 8790 and Rs 8615 a kg respectively.
In yellow metals, standard gold eased further by Rs five to Rs 3980 per 10 grammes, and gold-22 carat firmed up by Rs five to Rs 3,680 per 10 grammes on modest local demand. Gold biscuit prices ruled steady and were quoted at Rs 46,600 per piece of bar.
