Palmolein in Mumbai touched a low level of Rs 2120 a quintal. Rapeseed oil at Kandla port was quoted as low as Rs 2470 a quintal. Groundnut refined and mustard oils in tins dipped by Rs 10-25 a tin. Palmolein refined was quoted at Rs 420 and soyabean refined at Rs 455-485 a tin. Groundnut de-oiled cakes shot up by Rs 400 at Rs 7700 a tonne due to paucity of ready stock.

Mumbai: Groundnut oil reacted on the oil,oilseeds market here today. Castoreed and its oil too ruled weak in absence of overseas buying and millers and stockists remained active sellers on news of late rains in the producing centers which has brightened new crop prospects.

Groundnut oil slid byRs 5 at Rs 390 per 10 kg. In Rajkot prices quoted lower at Rs 620 per 15 kg.

Imported palm oil declined by Rs 4 at Rs 213 per 10 kg on fresh inflow at Mumbai port coupled with news of setback in the global market. In the overseas market palm oil settled lower at $382.50 per tonne for nearby delivery and $385/387.50 per tonne for the long delivery, it was gatheredCastor oil finished Rs 3 lower at Rs 392/404 per 10 kg. Castorseed ready reacted by Rs 15 at Rs 1804/1810 per quintal.

In the future section castorseed December delivery moved down from Rs 1,870 to Rs 1,825 before concluding at Rs 1,839 per quintal. In Ahmedabad it slipped to Rs 1,822 and in Rajkot at Rs 1,815 per quintal.

In the international castor oil future market December deliver edged down by Rs 3 at Rs 407 and February delivery by same margin at Rs 412 per 10 kg.

Arhar dips

A mixed trend prevailed at the local grains and pulses market on Tuesday.

Further rise in pulses was arrested due to slack demand from millers at higher rates. Moong slipped by Rs 10 a quintal on selling pressure from Akola and Khamgaon. Similarly, arhar dipped by Rs 25 at Rs 1975-2350 a quintal and new arhar is expected by next month.

Among cereals, wheat dara looked up by Rs 5 at Rs 707-715 a quintal on good demand from flour millers. Roller flour mill atta, maida and suji also edged up by Rs 5-10 at Rs 715, Rs 765 and Rs 815 per bag, respectively in sympathy with wheat. Rice permal ruled easy at Rs 835-1015 a quintal as daily arrivals from the neighbouring states hovered around 15-20,000 bags.

Among coarse grains, oats plummeted from Rs 1050-1340 to Rs 1035-1275 a quintal due to sluggish demand from seed traders. Maize prices remained subdued on improved supply while barley looked up by Rs 10 at Rs 670-715 a quintal on strong demand from seed traders.

Gold sovereign rises

Both the precious metals, at the local bullion market recorded gains on Tuesday.

Gold in London on Monday slipped from $320 to $315 an ounce due to weak south east Asian demand, but on Tuesday improved to $318 an ounce and in the absence of fresh import, there was no stock in the market. Import of gold was not a profitable proposition for the operators, consequently, gold biscuit and standard mint gold prices were pushed up from Rs 4750 and Rs 4760 to Rs 4825 and Rs 4850 per 10 gram, respectively. Though demand from jewellers were reported negligible.

Gold sovereign was quoted higher by Rs 25-50 at Rs 3900-3950 per 8 gram on strong festive demand.

New York silver future slipped by 2 cents to 552 cents an ounce coupled with inflow of about 5000 kg imported silver on Monday, spot silver .999 fineness improved by Rs 10 at Rs 8350 a kg on strong demand from upcountry jewellers, utensil and coins manufacturers. Silver weekly delivery also looked up by Rs 10 at Rs 8325 a kg.

Mumbai: Gold rallied further on the bullion market here today as speculators and seasonal buyers were active during the day while tight supplies coupled with firm global advices kept offerings limited.

Standard gold hardened by Rs 50 at Rs 4,875 per 10 gm. Gold .22 carat was up by Rs 45 at Rs 4,510 per 10 gm. Prices of gold biscuit (116.50 gm.) spurted by Rs 800 at Rs 57,100 per piece. Recovery in the dollar value against rupee after recent losses also cheered up the market sentiment. In the global market the yellow metal shot up from $317/318 to $324 before settling at $322 per ounce, it was learnt.

Meanwhile silver .999 fell by Rs 15 at Rs 8,450 per kg. Silver .916 was down by Rs 10 at Rs.8,325 per kg. Industrial buyers were stayed away at higher level while continued arrivals of raw silver from local sources prompted light profit -taking among stockists and local bankers.

In the global market the white metal opened higher from $5.51 to $5.63 and settled down at $5.58 per ounce.

Sugar remains dull

Business in mill delivery sugar remained dull as upcountry demand at higher rates remained poor.

Mawana sugar was traded at Rs 1590-1595, Simbhauli at Rs 1435, Douralla at Rs 1455, Bajpur at Rs 1392, Ramala at Rs 1412 and tax-paid Jagadhari at Rs 1600 a quintal.

New gur prices in Muzaffarnagar mandi fell by Rs 25 per mound on selling pressure of new gur.

Black pepper golden up

Black pepper golden climbed up by Rs 5 at Rs 225-245 a kg on firm Cochin advices and cloves looked up by Rs 5 at Rs 145 a kg on commencement of consumption season. However, cardamom small slipped by Rs 5-10 at Rs 345-700 a kg on selling pressure at the auction centre.

Among dry fruits, copra fell sharply by Rs 100 a quintal due to lack of buying by the stockists.