Groundnut oil, maintaining its sharp upward march, shot up further by Rs 10 to close at Rs 383 from the last close of Rs 373 due to higher Gujarat advices coupled with good festive demand. Restricted supply also aided the steep hike in prices, dealers said.

Imported palm oil displayed a smart rise of Rs 8 at Rs 235 from the last close of Rs 227 as its prices were quoted higher in the Malaysian and Indonesian markets, they said and added that supply had also fallen drastically.

In the non-edible section, castor oil commercial, on the other hand, eased to Rs 388 from the previous close of Rs 389 and castorseed Madras declined to Rs 1790 from Rs 1795. However, linseed oil showed no change from the last close of Rs 340.

In futures, castorseed September contract opened weak at Rs 1766 on heavy stockists selling. Later, due to some export demand, it improved to close at Rs 1767, but showing a fall of Rs 5 over yesterday's close of Rs 1772. In castor oil international contract, prices of both October and December deliveries held steady at Rs 404 and Rs 359 respectively. Bullion divergentPrices displayed a divergent trend at the bullion market today as gold rose further and silver turned weak.

Gold continued to attract good local demand in view of the forthcoming festive season and standard gold rose further by Rs 10 to end at Rs 4085 from yesterday's close of Rs 4075. 22 carat gold was nominally quoted higher at Rs 3780 from the last close of Rs 3770. Ten-tola gold bar (.999 purity) firmed up by Rs 100 to close at Rs 47,850 from the previous level of Rs 47,750.

On the other hand, ready silver (.999 fineness) declined by Rs 50 to end at Rs 8160 from the last close of Rs 8210 due to fall in international prices. Raw silver (.916 fineness) and tenderable silver also declined to Rs 8020 and Rs 8165 respectively from the previous close of Rs 8080 and Rs 8215.

Sugar edges up

A steady-to-slightly better trend prevailed on the sugar market.M-30 were placed at Rs 1430-1510 and S-30 at Rs 1405-1430 a quintal ex-godown.

Ex-octroi checkpost, the price ruled at Rs 1402-1420 and at Rs 1390-1400 respectively.

In tenders, M-30 were indicated at Rs 1355-1365 and S-30 at Rs 1340-1345 in Kolhapur line.

Thai white sugar was on offer at Rs 1305, exclusive of sales tax, ex-Kandla.

Grains unchanged

Trading remained restricted on the grains market. Prices, generally, ruled quietly steady.

Green peas USA Rumba/Heart were on offer at Rs 1250 and Canadian at Rs 780-900 a quintal. White peas Canadian were placed at Rs 901. Tur Myanmar were quoted at Rs 1650-1675. Urad Myanmar were traded at Rs 1611-1621. Moong Myanmar ruled at Rs 1500-1650 and Chinese at Rs 1650-1700.

Kabuli gram A-2 Mexican were on offer at Rs 2900-3000. B-2 ruled at Rs 2500-2600. C-2 average were placed at Rs 1400-1450 and superior at Rs 1800-2000. Natural found sellers at Rs 2200-2300.

Rajma chitra deshi were quoted at Rs 2500-2600 and Chinese at Rs 2250-2300. Red rajma Myanmar unpolished were on offer at Rs 1750-1800 and polished at Rs 1850.

Wheat milling deshi and imported were placed at Rs 755 and at Rs 701 respectively. Rice Perimal average ruled at Rs 950-1100 and superior at Rs 1200-1500.

Cotton steady

A steady condition prevailed on the cotton market.V-797 ruled at Rs 12,900-13,000, Wagad at Rs 12,300 and kalan-ginned at Rs 11,800 a candy spot. Sanker average were placed at Rs 15,500-17,000, medium at Rs 17,500-18,500 and superior at Rs 19,000-20,200.

In futures, December and February contracts finished at Rs 4686 and at Rs 4683 a quintal respectively.

New York quotations improved by 0.65 to 0.85 cents. October was up at 52.89, December at 53.76, March at 54.70 and May at 55.45 cents.

Meanwhile, the crop committee of the East India Cotton Association and the Cotton Advisory Board (CAB) are having the meetings here seperatly on 16th and 20th respectively.

Yarn listless

A quietly steady condition continued on the yarn market as the volume of business remained affected due to the search by the excise department continuing in Bhiwandi and Silvasa, averred trade sources.

Polyester yarn grey first quality of medium-sized units 80dn roto were placed at Rs 82-83, microroto at Rs 90-92 and weft at Rs 80 a kg. 150dn weft were on offer at Rs 69-71, warp at Rs 78, single roto at Rs 70-72 and double roto at Rs 71-73.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.