Groundnut oil rose from Rs 500 to Rs 502 per 10 kg on renewed buying support coupled with lack of ready stock. In Rajkot it was quiet at Rs 685 per 15 kg. Imported palm oil edged up by a rupee to Rs 351 per 10 kg exclusive of tax on continued bull support at lower level. August delivery was quoted at Rs 349 and September delivery closed at Rs 347 per 10 kg.

Castor oil moved up by Rs 7 at Rs 393/405 per 10 kg on fresh enquiries by shippers ahead of shipment coupled with renewed overseas interest. Castorseed ready shot up from Rs 1751/1757 to Rs 1784/1790 per quintal in sympathy.

In the futures section castorseed September delivery finished firm at Rs 1629 as against Rs 1616.50 per quintal on sustained bull buying. But volume of trading was nominal, according to floor sources. In Gujarat castorseedready delivery lifted to Rs 344/345 per 20 kg. Castor oil climbed to Rs 374/375 per 10 kg. And arrivals of castorseed remained poor around 9000/10000 bags, it was learnt.

Yarn slumps

Polyesters slumped on heavy offerings propelled by persistent sluggish demand from the weavers which slackened the hold of the speculators on the market.

Grey first quality of medium-sized units 80dn rotoset fell to Rs 90 and micro rotoset to Rs 110 a kg. 80dn weft and warp were placed at Rs 86-87 and warp to Rs 96-97.

In the case of 150dn, weft were on offer at Rs 66-67 and warp at Rs 77-78. Single and double rotoset were mentioned at Rs 68-70 and at Rs 70-72.

Silver suffers

Silver prices suffered a setback at higher level while gold finished lower on the bullion market here today. Silver .999 declined by Rs 80 to Rs 8,335 per kg. Silver .916 moved down by Rs 90 at Rs 8,210 per kg in sympathy. Industrial buying was dull at higher level while brisk inflow of raw silver from local sources coupled withweak overseas advices prompted profit-taking by local traders and stockists. In Delhi silver forward delivery dropped to Rs 8,355. Ready delivery closed lower at Rs 8,390 per kg. In the global market silver prices dropped from $5.83 to $5.71 per ounce. Traders reported arrivals of 400/500 kg. of silver from the local sources in the city market. But inflow of imported silver however remained negligible.

Standard gold closed Rs 20 lower at Rs 4,260 per 10 gm. Gold .22 carat fell by Rs 20 at Rs 3,940 per 10 gm. Prices of gold biscuit (116.50 gm.) finished Rs 25 lower at Rs 50,200 per piece. Physical buying was dull while steady local inflow of gold released against matured gold bond coupled with weak global advices put fresh pressure on local prices, it was said. In the overseas market the yellow metal dropped from $294.65 to $291.45 per ounce.

Sugar ends lower

A slightly easy trend was in evidence on the sugar market following slack demand.

Price of indigenous sugar was placed lower by Rs 3 to 5a quintal. M-30 ruled at Rs 1485-1535 and S-30 at Rs 1470-1485 ex-godown. Ex-octroi checkpost, M-30 found sellers at Rs 1473-1495 and S-30 at Rs 1450-1470.

In tenders, M-30 were indicated at Rs 1440-1445 and S-30 at Rs 1420-1425 in Kolhapur line.

Imported sugar ruled unchanged. Dubai were quoted at Rs 1435 and Pakistan incoming at Rs 1430 plus tax.

Rajma improves Red rajma price improved again on the grains market. Elsewhere, a quiet condition continued.

Following emergence of low level demand the price of imported red rajma rallied from Rs 1911 to Rs 1950 a quintal. Green peas USA at Rs 1675 were static. However, Canadian were weak by Rs 10 at Rs 1161-1171. Inferior Canadian were placed at Rs 1141. White peas Canadian ready and July/August shipments continued to be traded at Rs 1151 and at Rs 1051 respectively. Tur Myanmar 1998 ruled at Rs 2000-2025 and 1997 at Rs 1900-1925. Urad Myanmar were on offer at Rs 1311-1321. Moong Myanmar were quoted at Rs 1900-2000.

Australian gram were transacted at Rs1375-1400. Among kabuli gram A-2 Mexican found sellers at Rs 3200, Turkish at Rs 3000, Iranian at Rs 2900 and Australian at Rs 2800. B-2 were placed at Rs 2550-2600 and C-2 at Rs 1600.

Wheat milling were subdued at Rs 690-700. Other wheat and rice ruled unchanged. Rice Gujarat-17 were quoted at Rs 1475-1600, Permal FCI at Rs 875-900 and superior at Rs 1150-1250.

Cotton steady

A quietly steady trend prevailed on the cotton market. Activity was thin.

V-797 ruled at Rs 15,800-16,000, Morbi wagad at Rs 15,500-15,600 and kala-ginned at Rs 15,000-15,100 a candy spot. Sanker were placed in the range of Rs 19,000-22,800.