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Thursday, February 11, 1999

G'nut oil turns weak on lack of buying interest 

Our Bureau/Agencies  
Mumbai, Feb 10: Groundnut oil turned weak on the oilseeds market here today due to poor local buying amidst fresh arrival.

However, in the non-edible section, linseed oil firmed up further on incresed demand from paint industries. On the other hand, castoroil commercial eased on lack of soap industries' offtake in the face of fresh arrival of castorseeds.

Groundnut oil eased to Rs 428 from Rs 430, while imported plam oil ruled steady at Rs 326.

In industrial sector, linseed oil shot up by Rs 5 to Rs 445 from Rs 440, but linseeds bold remained unchanged at Rs 1700. Castor oil commercial eased to Rs 334 from Rs 335 and castorseeds Madras declined by Rs 5 to Rs 1507 from Rs 1512 on lack of support from exporters.

In futures, castorseeds March contract opened higher at Rs 1462 but later, declined to close at Rs 1454, showing a loss of Rs 2 from the last close of Rs 1456 on poor export demand. June contract also started better at Rs 1462 and after moving in a restricted way, settled at Rs 1456, disclosinga gain of Rs 6 over the last close of Rs 1450.

Sugar maintains

A steady condition prevailed on the sugar market. Activity was modest.M-30 were placed at Rs 1425-1495 and S-30 at Rs 1400-1440 a quintal ex-godown. Ex-octroi checkpost, the former were traded at Rs 1405-1425 and the latter at Rs 1380-1390.

In tenders, M-30 were indicated at Rs 1370-1380 and S-30 at Rs 1340-1350 in Kolhapur line.

Brazilian sugar white and biscuit colour continued to be traded at Rs 1325 and at Rs 1250 respectively plus sales tax.F Grains unchangedA steady condition was noticed on the grains market. Volume of business was moderate.

Arrival of new crop wheat continued in a limited way from Saurashtra and were traded in the range of Rs 900-1000 a quintal. Among old wheat, milling were placed at Rs 735-740, north Gujarat Sonaklyan at Rs 825-841, Tukadi at Rs 850-875, Lokvan at Rs 825-861 and 496 at Rs 875-900. MP 147 and Sarbati were transacted at Rs 850-900 and at Rs 900-1400 respectively.

Rice Perimal Punjab weretransacted at Rs 850-925 while superior fetched Rs 1200-1400. SLO ruled at Rs 1100-1250. AP kattar and cultured kolams were placed at Rs 1000-1125 and at Rs 1400-1600 respectively. Gujarat-17 rice fetched Rs 1750-1825.

Among pulses, green peas USA were placed at Rs 1350 and Canadian in the range of Rs 800-925. White peas Canadian were quoted at Rs 800. Tur Myanmar were traded at Rs 1650, Kenyan at Rs 1850-1875 and Tanzanian at Rs 2000-2025. Moong Myanmar ruled at Rs 1650-1750 and Chinese at Rs 1850-1875.Yarn listless

Prices were held at previous levels in moderate trading on the yarn market.Viscose filament yarn bright cones first quality Century Rayon/Indian Rayon 150dn and 120dn were on offer at Rs 217 and at Rs 239 a kg respectively. 100dn ruled at Rs 239 and 75dn at Rs 248. 120dn dull cones found sellers at Rs 247.

Nylon yarn 15/1/0dn Shreelon were traded at Rs 240. Gujnil 20/1/0dn and 30/1/0dn ruled at Rs 210 and at Rs 290 respectively.

Cotton steady

Cotton market presented asteady stance in moderately good activity.Volume of business remained centerd round the Punjab cotton. Arrivals comprised of 2000 bales of Bengal deshi and 7000 bales of J-34. Bengal deshi roller-ginned ruled in the range of Rs 1425-1500, J-34 saw-ginned good average at Rs 1625-1775 and cart selected in the range of Rs 1730-1955 a maund spot. J-34 roller-ginned good average were placed at Rs 1570-1680.Sanker were mentioned in the range of Rs 18,000-20,000 a candy. In futures, February were placed at Rs 4855 and April at Rs 4947.

Bullion stable

The local bullion market witnessed stable conditions on lack of fresh buying support from local buyers and operators today.

Silver .999 rose by Rs 10 to Rs 8150 on slight buying support, while raw silver was unchanged at Rs 8000 per kg on paucity of fresh demand from local consumers and industrial users.

Standard mint gold and 22-carat remained steady at Rs 4350 and Rs 4025 per ten gm. on stagnant demand, while ten tola gold declined by a marginal Rs 50to Rs 51050 per biscuit on lack of demand from investors and jewellery industry.

Delhi

Chemicals prices were mixed as some of the commodities came under pressure of increasing inflow and stockists selling while others witnessed good sales. Caustic soda flakes fell by Rs 10-20 at Rs 660-670 per 50 kg on increasing availability.

In citric acid China, nearly 70 tonnes has hit the local market and 30 tonnes more arrivals were expected soon. This led the prices downward by Rs 50 at Rs 3700 per 50 kg. Thymol witnessed stockists unloading to fall further by Rs 5 at Rs 255 per kg.

Menthol section was upbeat on steady UP prices reports and increased local buying. Mentha oil, menthol flake and bold firmed up by Rs 4-5 at Rs 294, Rs 390 and Rs 425 per kg.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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