Basmati rice, wheat gain
NATIONAL NEWS SERVICE
DELHI, January 9: Rice basmati and wheat, on the Delhi grains and pulses market revealed a firm tendency while pulses prices ruled easy on Friday.Crop of basmati paddy is likely to suffer a setback due to unfavourable weather conditions, consequently, superior basmati rice of Punjab and Haryana recorded a gain of Rs 50 at Rs 4300 a quintal while UP basmati rice remained subdued at Rs 3700 a quintal. Wheat dara further improved by Rs 5 at Rs 680 a quintal as daily arrival declined to about 26,000 bags. Demand in atta, maida and suji was reported strong from the South buyers. Gram Rajasthani firmed up by Rs 25 at Rs 1750 a quintal on lack of inflow. Rajmash crop suffered a damage in the South, consequently, its prices on the local market registered a sharp spurt of Rs 50-100 at Rs 2100-2450 a quintal while on Wednesday, they were priced at Rs 1900-2300 a quintal. Masoor climbed down by Rs 25-50 and arhar slided down by Rs 15-25 a quintal due to weak demand from exporters. Arrival of arhar on the
local market was reported about 1500 bags, urad 3500 bags and masoor about 1000 bags. Sesame oil plunges The local oil and oilseeds market revealed an easy tendency on Friday. On weak Mumbai and Rajkot advices coupled with inflow of domestic oilseeds in the mandies, sesame oil crashed by Rs 50-100 at Rs 3250-3350 a quintal on selling pressure. Coconut oil in Mumbai in the past two days, slumped by Rs 250 at Rs 5650 a quintal, therefore, demand in cococnut oil on the local market remained thin. Palmolein in Delhi it was priced at Rs 3250 a quintal. Mumbai: Groundnut oil looked up from the reduced level on the oil,oilseeds market here today. Castorseed and its oil too bounced back following hectic coverage by shippers ahead of shipment. Groundnut oil edged up by a rupee at Rs 358 per 10 kg amidst eased winter crop supplies. However offtake remained dull. In Rajkot prices ruled steady at Rs 540/545 per 15 kg. Imported palm oil rose by Rs 3 at Rs 303 per 10 kg exclusive of tax on the back
of upsurge in the dollar value coupled with rally in the world market. Palm oil prices in the global market bounced back to $585/587.50 per tonne. Castor oil rose by a rupee at Rs 272/284 per 10 kg on short covering by shippers. Castorseed ready finished Rs 5 higher at Rs 1204/1210 per quintal. In the futures section castorseed March delivery jumped up from Rs 1162.50 to Rs 1175 before concluding at Rs 1174.50 as higher Ahmedabad advices attributed bull buying while short covering by bears helped prices to rally. In Ahmedabad March delivery ruled firm at Rs 1147.50 while in the kerb deal it was placed at Rs 1150 per quintal. Arrivals of castorseed in Gujarat region fell to 22000/23000 bags today against 28000/30000 bags recorded on Thursday. Zeera shoots up In the wake of unfavourable weather conditions, zeera, on the local market recorded a sharp rise of Rs 100-200 at Rs 5700-7200 a quintal while on Tuesday last, it ruled at Rs 5500-6800 a quintal. Similarly, Kalaunji flared up by Rs 200
at Rs 4200 a quintal amidst tight supply position while on stockists selling, dhania, poppyseed and tamarind was down by Rs 50-100 a quintal. Arrival of new dhania in the market is expected to pick-up by the end of current month and new tamarind in Jagdalpur and Calcutta is expected shortly. Arrival of new tamarind in Kerala has already commenced. Among dry fruits, kishmish Kandhari inferior quality flared up by Rs 300 at Rs 6200 and almond California shot up by Rs 100 at Rs 8250 per 40 kgs. because of firm dollar coupled with restricted supply. As against this, abjosh inferior quality crashed by Rs 400 at Rs 4000 per 40 kgs. on increased imports from Pakistan. Gold subdued Silver on the local bullion market crashed while gold held steady on Friday. Spot silver .999 fineness which, on Thursday, shot upto Rs 8400-8425 from Rs 8100-8270 crashed to Rs 8150-8175 a kg. on Friday as New York silver future crashed to 580 cents from 610 cents an ounce. There was no demand in spot silver at these rates.
Silver weekly delivery, on weak New York advices tumbled down to Rs 8215 from Rs 8370 a kg. on unloading by the bulls. Silver coins suffered a setback of Rs 100 at Rs 10,700-10,900 per 100 pieces in sympathy. Gold in the overseas markets having dipped to $278 improved to $281 an ounce on Friday. There was no infow of imported gold on Friday, therefore, gold biscuit and standard remained subdued at Rs 4150 each per 10 gram.Gold sovereign held steady at Rs 3550-3600 per 8 gram. Mumbai: Silver prices nosedived on the bullion market here today. Gold also lost gained ground in sympathy. Silver .999 slipped by Rs 160 at Rs 8,240 per kg. Silver .916 crashed by same margin at Rs 8,140 per kg. Industrial and seasonal buying was sluggish at the improved level while sharp setback in the world market triggered panic selling among local stockists. Weak delhi advices also put pressure on the prices, according to dealers. In the global market silver declined from $6.10 to $5.80 an ounce. Uptrend in dollar
value against Indian rupee failed to cheer up the market sentiment due to lack of buying interest. During the day transactions were limited. Standard gold reacted by Rs 15 at Rs 4,025 per 10 gm. Gold .22 carat eased by same margin at Rs 3,725 per 10 gm. Prices of gold biscuit (116.50 gm.) finished Rs 200 lower at Rs 47,100 per piece. In the overseas market the yellow metal slid to $282.50/282.60 an ounce. Demand remained thin and weak overseas advices triggered profit-taking in the local market. Prices of gold biscuit was up by Rs 600 per piece on Thursday. Sugar easy Following consumption season of gur and khandsari coupled with supply of imported sugar, mill delivery sugar prices continued to rule easy on the local market. Mill delivery sugar Mawana was down by Rs 7 at Rs 1383 and S-grade Bareilly slipped by Rs 10 at Rs 1290 a quintal. Rampur and Najiababad ruled at Rs 1312, Ram-Laxman at Rs 1305, Titabi at Rs 1340 and Bagpat at Rs 1315 a quintal. There was no support from the stockists
in gur, but prices held steady at Rs 1000-1050 a quintal on good festive demand. Gur Chaku and Laddoo in Muzaffarnagar were quoted at Rs 360-375 and Rs 380-400 per 40 kgs. respectively. Wax flares up Residue wax, press and slackes wax flared up by Rs 500-1500 at Rs 10,500, Rs 28,000 and Rs 20,500 per tonne on tight ready stock position. Ammonia bicarb, caustic soda and paraffin wax eased by Rs 5-50 on poor buying support. Mentha oil, menthol flake and bold also were marked down by Rs 3-12 per kg. on stockists profit-taking sales. Cadmium plate declines Copper wire bar, rod, copper wire, utensils, mixed scrap, accessories, tin ingot and nickel plate eased by 50 paise to Re. one per kg. as the industrial offtake was down against the arrivals. Lead ingot desi soft and hard was marked lower by 25 paise and cadmium plate also was marked down by Rs 6 at Rs 52 per kg. on excess arrivals. Other metals lacked sales.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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