Among industrial oils, palmfatty drifted lower by Rs 50-85 at Rs 1800-2040 a quintal on increased arrivals from Kandla. Similarly, mahuwa, neem and castor oils slided down by Rs 30-50 a quintal on selling pressure of new crop oils.

Mumbai: Groundnut oil ruled weak while castorseed and its oil remained firm on the back of steady overseas demand.

Groundnut oil fell by Rs 2 at Rs 358 per 10 kg. Fresh setback in the prices of imported edible oil further depressed the market sentiment for groundnut oil, according to a miller. In Rajkot prices ruled quiet at Rs 585 per 15kg.Imported palm oil reacted by Rs 4 and closed the 12-years lowest level of Rs 196 per 10 kg. Continued overseas supplies coupled with bearish trend in the international market attributed to prevailing easy tendency. In the overseas market palm oil closed $2.50 lower at $335 per tonne.

Castor oil edged up by a rupee at Rs 377/389 per 10 kg. Castorseed ready was up by Rs 1729/1735 per quintal.

In the futures section castorseed September delivery shot up from Rs 1733 to Rs 1762 per quintal following brisk short covering. Ahmedabad market was closed today due to imposition of curfew. In Rajkot September delivery finished higher at R 1741.50 per quintal. In Gujarat castorseed spot delivery placed higher at Rs 340 per 20 kg. while castor oil changed hands at Rs 370 per 10 kg.

Rice IR-8 edges up

In the wake of inclement weather, narrow movements were seen at the Delhi grains and pulses market on Wednesday.

Wheat dara, at the local market, slipped from Rs 685-693 to Rs 683-690 a quintal in theexpectation of increased arrivals from the neighbouring states. Roller flour mill atta, maida and suji slipped by Rs 5-10 per bag due to fall in demand from eastern Indian buyers.

Rice IR-8 edged up by Rs 10 at Rs 900-950 a quintal due to restricted supply from UP. Desi masoor climbed up by Rs 10-25 a quintal as it was being despatched to Nepal and Bangladesh from UP.

Gur firm

Despite deals for about 20-25,000 bags of Mawana sugar at Rs 1467-1480 a quintal in two days, mill delivery sugar prices slipped from Rs 1345-1485 to Rs 1332-1477 a quintal on selling pressure from millers. Spot sugar prices also fell from Rs 1480-1600 to Rs 1465-1595 a quintal.

Khandsari cutting of UP slipped from Rs 1290 to Rs 1265 a quintal while gur dhaiya marked up by Rs 20-25 at Rs 1400-1425 a quintal due to restricted supply from Muzaffarnagar.

Silver coins static

In lack-lustre trading, divergent conditions were seen at the local bullion market on Wednesday.

Despite negligible inflow of importedsilver on Tuesday and New York silver future showed signs of improvement at 506 cents an ounce, but spot silver .999 fineness and silver weekly delivery climbed down by Rs 21 at Rs 7640 each a kg as investors started investing in scrips for long term gains.Silver coins held steady at Rs 10,300-10,500 per 100 pieces.

Though gold, on the overseas market ruled easy at $252.75 an ounce, yet, gold biscuit and standard mint gold improved by Rs 5 at Rs 3965 and Rs 3975 per 10 gram, respectively due to tight supply position.

Gold sovereign remained unchanged at Rs 3600-3625 per 8 gram.

Mumbai: Gold prices dipped below Rs 4,000-level on the bullion market here today. Silver however bounced back as industrial buyers were active at the lower level for their immediate requirements, according to market sources.Gold Standard eased by Rs 5 to Rs 3,995 per 10 gm.Gold .22 carat was down by same margin at Rs 3,695 per 10 gm. Prices of gold biscuit (116.50 gm.) fell by Rs 100 at Rs 46,900 per piece. Demand was dull andsteady overseas advices coupled with weak trend in the global market influenced fresh pressure on the local market, it was learnt. In the overseas market gold dropped by 25 cents at $252.80 per ounce.

Silver .999 recovered by Rs 35 at Rs 7,885 per kg. Silver .916 was hardened by Rs 70 at Rs 7,770 per kg in sympathy. Fresh industrial buying aided the upsurge in silver while eased supplies arrested fresh offerings by stockists and local bankers. Besides arrivals from Ahmedabad remained suspended due to communal riot and imposition of curfew there, one dealer said. Today's volume of trading in silver was around 225/250 kg according to market sources. Delhi was firm and in the overseas market the white metal declined from $5.06 to $5.05 per ounce.

Zeera dearer

Cardamom brown slipped from Rs 205-230 to Rs 195-223 a kg on stockists selling as new crop cardamom is expected by next month. Cloves and nutmeg went up by Rs 5-25 a kg on speculative buying. Nutmeg in Singapore shot up from $6000 to $7000 atonne, turmeric unpolished and polished flared up by Rs 100 at Rs 3300-4400 a quintal on hectic buying by the stockists.

Similarly, zeera recorded a sharp rise of Rs 200-250 at Rs 7300-9000 a quintal as arrival in Unjha mandi dipped to 2000-2500 bags due to rainy weather conditions.

Among dry fruits, almond California and Indian kishmish tumbled down by Rs 100-200 per 40 kg on stockists selling coupled with dull demand and copra, on weak Kerala advices, plummeted by Rs 50 a quintal. Pistachio also lost Rs 5-25 a kg due to poor offtake.

Resin rises

Resin prices were on uptrend as its arrivals to the local market dwindled following the closure of factories in Jammu and Garhwal. Yellow and red resin prices on Wednesday shot up by Rs 50 to Rs 525 and Rs 495 per tin. Its stock in the local market has plummeted. On the other hand, there is a good demand for resin from Agarbati and Dhoop makers.

Thymol prices edged up by Rs 5 at Rs 255 per kg on the back of local demand. Menthol products ruled firm.