Groundnut oil maintained at the peak level of Rs 585 per 10 kg amidst demand resistance and limited supplies coupled with acute shortage of ready stock. In Rajkot prices settled higher at Rs 600 per 10 kg and at Rs 920/925 per 15 kg.

Imported palm oil rose by Rs 2 at Rs 364 per 10 kg exclusive of tax owing to festival buying coupled with bullish overseas advices. News of fresh arrivals of 6000 tonnes of palm oil at Mumbai port had little impact on the market.

Castor oil shot up by Rs 8 at Rs 480/492 per 10 kg on thin supplies and fresh short covering by shippers. Castorseed ready advanced by Rs 38 to Rs 2202/2208 per quintal in sympathy.

In the futures section castorseed December delivery initially rose from Rs 1834 to Rs 1860 on fresh bull interest but later on reacted to Rs 1835 per quintal on profit-taking following news of fresh rain in the producing centres, floor sources said. Maturing September delivery remained absent from trading today.

Gold dips

Gold prices dipped further while silver looked up on the bullion market here today.

Standard gold finished Rs 10 lower at Rs 4,200 per 10 gm. Gold .22 carat was down by Rs 10 at Rs 3,885 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 100 to Rs 49,100 per piece. Festival demand was lower than expected while steady overseas supplies and weak trend in the dollar value against rupee prompted fresh offerings by local stockists. In the global market the yellow metal maintained at $284.50 per ounce in a narrow trading range.

Silver .999 on the other hand rose by Rs 20 to Rs 7,820 per kg. Silver .916 was up by Rs 25 to Rs 7,700 per kg. Festival demand for silver was sluggish but traders reported fresh industrial buying which in turn kept prices firm. Delhi advices were remained weak. In the global market the white metal remained unchanged at $5.16 per ounce.

Cotton further up

A firm trend prevailed on the cotton market following unfavourable weather and improved buying support.

Insufficient rains in the producing centres have turned the stockists of short and medium staple cottons reserved pushing up the price by Rs 200 a candy, in the process. V-797 rose to Rs 16,000-16,300, Morbi Wagad to Rs 15,400-15,500 and Kala ginned to Rs 14,700-14,800 spot. Sanker were well-held in the range of Rs 18,500-22,500.

Activity improved in Punjab cotton. Bengal Deshi were quoted at Rs 1585-1625 a maund. J-34 saw-ginned good average were placed at Rs 1810-1850 and cart selected at Rs 1970-2015.

Among new crop goods, a leading Karnataka based textile group is understood to have bought J-34 saw-ginned at Rs 18,000 a candy spot on 15 to 20 November delivery basis. Hissar J-34 had changed hands at Rs 1775 for November. Bengal Deshi September were placed at Rs 1405 and November at Rs 1305-1315.

Besides, new Sanker is reportedly done at Rs 20,000 a candy for 15 to 20 November delivery. MP Y-1 November was quoted at Rs 17,800.

Wheat turns easy

Wheat price turned easy following improved arrivals. Other items ruled quietly steady.

The wheat arrivals rose to around 100 lorryloads as the proposed transport bundh call was withdrawn. The price reacted by Rs 10 a quintal in inferior and medium types. Milling wheat were on offer at Rs 675-681. Wheat Saurashtra Lokvan were placed at Rs 760-825, north Gujarat at Rs 725-775 and Ganganagar at Rs 750-800. Saurashtra SW and Sihori were steady at Rs 900-1100 and at Rs 850-950 respectively. Rice Gujarat-17 ruled at Rs 1400-1500.

Among pulses, urad Myanmar shed Rs 25 at Rs 1150 on continued selling pressure. Moong Myanmar were mentioned at Rs 1750-1800. New deshi moong medium at Rs 1550-1600 and superior at Rs 1800-2000 ex-producing centers were unchanged. Tur Myanmar 1998 and 1997 were traded at Rs 1950 and at Rs 1850 respectively. Kabuli gram A-2 Mexican at Rs 3400, Turkish at Rs 2900, Iranian at Rs 2800, B-2 at Rs 2600-2625 were steady.

Sugar better

A steady-to-better trend prevailed on the sugar market following improved offtake, coupled with higher ex-mill advices.

M-30 ruled steady while S-30 were edged up by Rs 5 quintal. M-30 were placed at Rs 1460-1502 and S-30 at Rs 1425-1455 ex-godown. Ex-octroi checkpost, the former were quoted at Rs 1440-1450 and the latter at Rs 1420-1430.

In tenders, the price firmed up by Rs 10 on increased inquiries. M-30 were indicated at Rs 1400-1405 and S-30 at Rs 1380-1385.Pakistan sugar was listless at the previous level of Rs 1395 plus tax.

Yarn dull

A dull condition continued on the yarn market.

Viscose filament yarn bright cones first quality Century Rayon/Indian Rayon 150dn ruled at Rs 224, 120dn at Rs 245, 100dn at Rs 258 and 75dn at Rs 269 a kg.

Nylon yarn Shreelon 15/1/0dn ruled at Rs 265 and 20/1/0dn at Rs 231.