Reports of good domestic crop and commencement of its arrivals have triggered panicky unloading by the stockists of imported goods causing a sharp drop from Rs 1700 to Rs 1450-1475 a quintal in the price of Myanmar tur. Tur dal also slumped in sympathy. Rajma red Myanmar price lost Rs 150 on lack of buying support. Unpolished found sellers at Rs 1650 and polished at Rs 1700.

White peas shed Rs 20 to 25 as Canadian were on offer at Rs 875 and French at Rs 860.

Green peas USA Rumba/Heart at Rs 1325-1350 and Canadian at Rs 975-1000 were up by Rs 25 on restricted supply. Urad Myanmar were down by Rs 25 at Rs 1971-1975 on lack of adequate buying support at high level.Kabuli gram ruled better on buying support. A-2 Mexican were placed at Rs 4100-4200, USA at Rs 3600-3700 and Turkish at Rs 3400-3500. B-2 and C-2 held steady at Rs 2900-3000 and at Rs 2000-2500 respectively. But natural added Rs 100 at Rs 2700-2800.

Milling wheat price lost Rs 10 to 15 on improved supply and competition from the imported goods. Indigenous ruled at Rs 770-775 and French at Rs 615. Rice ruled quietly steady.

Punjab cottons crash
A further sharp drop in the values of Punjab zone materials provided main feature of trading on the cotton market. Meanwhile, the Maharashtra federation has cut the price of old cotton while announcing the sale price for the new season goods.

As the arrivals rising to 19,000 bales consisting of 5000 bales of Bengal Deshi and 14,000 bales of J-34 with no commensurate buying support, prices took a heavy beating in Punjab zone. J-34 saw-ginned good average Punjab slumped from Rs 1525-1595 to Rs 1470-1530 a maund spot. Haryana at Rs 1425-1480 lost Rs 20 to 25 and Rajasthan at Rs 1410-1430 were down by Rs 30 to 40. Cart selected Punjab lost Rs 35 at Rs 1615-1635 while Haryana at Rs 1505-1515 and Rajasthan at Rs 1495 turned cheaper by Rs 15. Roller-ginned J-34 good average Punjab crashed from Rs 1530-1540 to Rs 1460-1475. Haryana eased by Rs 10 at Rs 1390-1400 but Rajasthan lost Rs 30 to 35 at Rs 1365-1380.

Bengal Deshi roller-ginned weakened by Rs 10 to 15. Punjab ruled at Rs 1120-1180, Haryana at Rs 1160-1165 and Rajasthan at Rs 1175-1200.V-797 at Rs 13,000-13,300, Wagad at Rs 12600-12,700 and Kalan-ginned at Rs 12,000 shed Rs 200. Sanker were quiet in the range of Rs 17,000-18,500.Meanwhile, the Maharashtra federation has announced the sale price for the current season cotton. Accordingly, H-4 price is fixed at Rs 19,300, LRA at Rs 18,000, DHY at Rs 17,800, NHH 1st grade Rs 17,500, 2nd grade at Rs 17,300 and 3rd grade at Rs 17,100. The price of Nagpur zone materials have been fixed at a premium of Rs 200, it was learnt. Besides, the sale price of old cotton FAQ and fair quality has been lowered by Rs 600 and by Rs 1000 respectively.

Futures also lost 60 to 65 points on unloading.

Sugar declines
Sugar price declined in the wake of sluggish demand.

M-30 lost Rs 10 while S-30 fell by Rs 5 a quintal, generally, as demand from Gujarat and Rajasthan which had imparted firmness peterred out. M-30 ruled at Rs 1440-1520 and S-30 at Rs 1430-1490 ex-godown. Ex-octroi checkpost, M-30 were quoted at Rs 1425-1435 and S-30 at Rs 1410-1420.

In tenders, M-30 were indicated at Rs 1370-1380 and S-30 at Rs 1355-1365 in Kolhapur line.

Bullion spurts
Gold and silver prices spurted sharply on the bullion market here today following sharp upsurge in the global prices while traders were complaining tight supplies and shortage of ready stock.

Standard gold shot up by Rs 30 at Rs 4,630 per 10 gm. Gold .22 carat was up by Rs 25 at Rs 4,280 per 10 gm. Prices of gold biscuit (116.50 gm.) lifted up by Rs 400 at Rs 54,300 per piece. Physical buying was slow owing to conclusion of festival season but traders reported brisk specualtive activity on the back of tight overseas supplies and rally in the global market. Gold prices in the global market looked up from $292.25 to $296.60 per ounce.

Meanwhile silver .999 rose by Rs 130 at Rs 8,125 per kg. Silver .916 was up by same margin at Rs 7,985 per kg in sympathy. Traders were reported brisk industrial and speculative buying for silver while bullish Delhi and overseas advices kept offerings restricted. In the international market silver climbed from $5.11 to $5.17/5.18 per ounce.

G'nut oil bounces back
Groundnut oil bounced back at reduced level on the oil,oilseeds market here today. Castorseed and its oil ruled firm in the ready delivery and prices lost some of the early gains towards close in the forward market.

Groundnut oil looked up by Rs 5 at Rs 360 per 10 kg amidst eased new crop supplies. In Rajkot prices quoted Rs 10/15 higher at Rs 615/620 per 15 kg on expectation of hike in the import duty on edible oil by Union government.Imported palm oil moved up by Rs 4 at Rs 205 per 10 kg. In the global market palm oil hardened by $12.50 at $370 per tonne for nearby delivery and $372.50 for long delivery, it was learnt.

Castor oil looked up by Rs 2.50 at Rs 362.50/374.50 per 10 kg on steady overseas enquiries. Castorseed ready were up by Rs 12 at Rs 1656/1662 per quintal.

In the future section castorseed December delivery rose from Rs 1,673 to Rs 1,690 but later on light bull unloading pulled down the prices to Rs 1,679 per quintal, according to floor sources. March delivery shot up from Rs 1681 to Rs 1705 per quintal. In Ahmedabad February delivery finished lower at Rs 1669 and in Rajkot it was available at Rs 1672.50 per quintal.

In the international castor oil future market December delivery closed Rs 3 higher at Rs 374 and February delivery at Rs 379 per 10 kg.

Poly yarn up
Polyester yarn firmed up further on the yarn makret following improved sentiment in grey fabrics.Grey first quality polyester yarn of medium-sized 80dn roto price improved futher from Rs 97-98 and had peaked Rs 100 a kg but reacted partially to Rs 98-99. Other items were placed higher by Re 1 to Rs 2. Thus, 80dn micro roto ruled at Rs 103-104 and weft at Rs 92-93. 150dn weft ruled at Rs 77-78.