Groundnut oil reacted by a rupee to Rs 492 per 10 kg amidst sluggish enquiries while supplies were at a low ebb. In Rajkot it was steady at Rs 685 per 15 kg.

Imported palm oil quoted lower at Rs 369/370 per 10 kg exclusive of tax on steady inflow. Reduction in import duty has triggered selling by local importers. Prior to revision of import duty, palm oil was quoted higher at Rs 384/385 per 10 kg. In the global market palm oil placed $5 lower at $660 per tonne for nearby delivery and forward deliveries were quoted at $650/640 per tonne.

Castor oil shot up by Rs 17 at Rs 360/372 per 10 kg on hectic short covering by shippers ahead of fresh shipment. Thin supplies and higher global advices kept offerings at a low ebb, dealers said. Castorseed ready also shot up to new peak level of Rs1626/1632 from Rs 1544/1550 per quintal earlier.

In the futures section castorseed September delivery climbed by Rs 4.50 to Rs 1454 per quintal on steady bull buying following firm Ahmedabad advices. In Ahmedabad September delivery skyrocketed as prices crossed Rs 1600-mark to Rs 1615 before concluding at Rs 1604.50 per quintal. Castorseed spot delivery in Gujarat region placed at Rs 324/325 per 20 kg amidst eased supplies. Castor oil quoted at Rs 345/350 per 10 kg on renewed buying interest of 800/1000 tonnes by leading shippers, it was learnt.

Sugar steady

Price ruled steady-to marginally better on the sugar market. Activity was modest.

M-30 were placed at Rs 1485-1530 and S-30 at Rs 1465-1495 a quintal ex-godown. Ex-octroi checkpost, M-30 found sellers at Rs 1470-1475 and S-30 at Rs 1445-1450.

Among imported sugar only Dubai remained on offer at the last week end level of Rs 1430 plus tax.

Bullion declines

Gold and silver prices extended losses on the bullion market heretoday.Standard gold was quiet at Rs 4,240 but .22 carat lost Rs 5 at Rs 3,920 per 10 kg. Prices of gold biscuit (116.50 gm.) closed Rs 200 lower at Rs 49,700 per piece. Physical demand for gold was thin while weak overseas advices prompted fresh offerings. Inflow of imported gold was slow but traders reported steady supplies of local gold released against matured gold bond. In the global market gold slid to $289.25/289.50 per ounce.

Silver .999 fell by Rs 10 to Rs 7,980 per kg amidst sluggish industrial demand. Weak Delhi and overseas advices also attributed to the weak market sentiment, it was said. Silver .916 however edged up by Rs 5 to Rs 7,860 per kg due to restricted offerings. In the overseas market the white metal slipped to $5.26/5.27 per ounce.

Cotton listless

A steady condition continued on the cotton market. Activity was limited.Punjab J-34 saw-ginned were placed at Rs 1625-1675, J-34 saw-ginned good average at Rs 2035-2150 and cart-selected at Rs 2200-2250 a maund spot.V-797 ruledat Rs 16,200-16,400, Morbi wagad at Rs 15,800-15,900 and Kala-ginned at Rs 15,300 a candy. Sanker ruled in the range of Rs 19,000-23,000.

Meanwhile, sawing of new crop in Punjab and Haryana has registered a drop of 10 per cent as compared to the current season while it has been placed higher by 5 per cent in Rajasthan. Bengal Deshi acerage has increased, averred trade sources.

Milling wheat improves

Milling wheat were slightly better on the grains market. Elsehwere, a quietly steady trend prevailed.

Milling wheat were placed at Rs 611-615 a quintal. Wheat north Gujarat were traded at Rs 750-800, MP 147 at Rs 750-900 and Sarbati at Rs 900-1300.

Rice Gujarat-17 were on offer at Rs 1400-1600. Permal medium were placed at Rs 875-950 and superior at Rs 1150-1200. Karnataka BT were mentioned at Rs 1075-1125. Punjab Tericot and Sarbati were traded at Rs 1500-1800 and at Rs 1000-2100 respectively.

Among pulses, green peas USA were transacted at Rs 1700 while Canadian found sellers at Rs 1191-1200.White peas Canadian were placed at Rs 1151.Kabuli gram A-2 Mexican were on offer at Rs 3200 and Iranian at Rs 2900. B-2 and C-2 were quoted at Rs 2550-2700 and at Rs 1600 respectively.

Yarn gains

Polyester yarn price netted fresh small improvement on the yarn market. Other items ruled steady.

Following sustained modest buying support popular deniers of polyester yarn gained Re 1 to Rs 2 a kg. Thus, grey first quality of medium-sized units 80dn rotoset rose to Rs 90-92, 150dn weft to Rs 69-70 and warp to Rs 80. Single and double rotoset were traded at Rs 74 and at Rs 75 respectively. 80dn weft at Rs 86-87, warp at Rs 96-97 and micro rotoset at Rs 110 were steady.