Milling wheat drops further; sugar subdued; g'nut oil edges up
Our Commodity Bureau
MUMBAI, January 13: Fresh drop in the quotation of milling wheat provided main feature of trading on the grains market. Activity was restricted.On lack of buying support coupled with relentless offerings on persistent fear of official action another Rs 15 were knocked out of the quotation of milling wheat. For Khopoli delivery moist were on offer at Rs 735 and good quality at Rs 741. Other medium quality wheat were also placed lower by Rs 10. Ganganagar ruled at Rs 815-850, North Gujarat at Rs 765-825 and Maharashtra at Rs 740-900. MP 147 and Sarbati wheat were on offer at Rs 825-1000 and at Rs 1000-1400 respectively. Rice were quietly steady. Permal average ruled at Rs 850-900 and medium quality at Rs 950. Superior were sought after at Rs 1100-1150. AP Masoori were on offer at Rs 900-950. AP Kattar which were in short supply were mentioned at Rs 925-950. Cultured Kolams met with support at Rs 1000-1200. Rice Gujarat-17 ruled in the range of Rs 1000-1300. Among pulses a quietly steady condition
prevailed, tur Myanmar 1997 and 1996 crop materials were traded at Rs 1300-1325 and at Rs 1150-1200 respectively. Urad Myanmar found sellers at Rs 1250-1275. Moong Myanmar ruled at Rs 1701. Australian gram were traded at Rs 1675-1700. Kabuli gram A-2 ruled at Rs 2000, B-2 at Rs 1850 and C-2 at Rs 1650. Sugar subdued A subdued trend was noticed in indigenous materials on the sugar market. M-30 were placed at Rs 1480-1521 and S-30 at Rs 1462-1481 a quintal ex-godown, down by Rs 5. Ex-octroi checkpost, M-30 were placed at Rs 1470-1480 and S-30 at Rs 1445-1460. Among imported sugar, Brazilian price looked up by Rs 5 at Rs 1380 on buying support. South African and French sugar continued to be quoted at Rs 1405.In tenders, price ruled unchanged as M-30 were indicated at Rs 1425-1430 and S-30 at Rs 1405-1410 in Kolhapur line. Yarn better A steady-to-slightly better trend continued in polyesters on the yarn market. On sustained buying support polyester yarn grey first quality of
medium-sized units 80dn rotoset were up from Rs 87-88 to Rs 88-89 a kg. Micro rotoset also rose from Rs 93-95 to Rs 95-96. Other items ruled steady. 80dn weft ruled at Rs 78-80 and warp at Rs 88. 80/1000dn and 80/1400dn continued to be placed at Rs 135-145 and at Rs 155-160 respectively. In the case of 150dn, weft ruled at Rs 68-70, warp at Rs 81-82, single rotoset at Rs 81-82 and double rotoset at Rs 84-85. Nylon yarn JK 15/1/0dn were on offer at Rs 245, 30/1/0dn at Rs 360 and sparkling at Rs 260. Gujnil crimped 44dn and 81dn were mentioned at Rs 166 and at Rs 123 respectively. In the case of viscose filament yarns, bright cones first quality Century Rayon, 150dn were placed at Rs 223, 120dn at Rs 244, 100dn at Rs 264 and 75dn at Rs 267. 120dn dull cones were on offer at Rs 260. 0Silver softens Silver softened further on the bullion market here today. Gold on the other hand moved in a narrow range and closed on a steady note. Silver .999 fell by Rs 60 at Rs 8,040 per kg. Silver .916
slipped by same margin at Rs 7,940 per kg. Industrial and seasonal demand was dull while continued arrivals of imported silver triggered fresh unloading among local stockists. Weak Delhi advices also subdued the sentiment. In the overseas market the white metal fell to $5.48 at one stage but later on bounced back to $5.62 an ounce. Standard gold maintained at Rs 3,985 per 10 gm. in a narrow trading band. Gold .22 carat ruled quiet at Rs 3,685 per 10 gm. Prices of gold biscuit (116.50 gm.) remained unchanged at Rs 46,600 per piece. Seasonal demand was slack but eased supplies and rally in the dollar value against rupee kept offerings at a low ebb. In the global market gold placed higher at $279.70 as against $278 an ounce earlier. The bullion market will remain officially closed on Wednesday on account of `Kite' festival and will reopen for trading on Thursday, according to dealers here. G'nut oil edges up Groundnut oil spurted from the reduced level on the oil,oilseeds market here today.
Castorseed and its oil on the other hand lost gained ground owing to continued new crop arrivals. Groundnut oil edged up by Rs 2 at Rs 352 per 10 kg on renewed seasonal demand coupled with lack of fresh offerings. In Rajkot prices moved up by Rs 5 at Rs 535 per 15 kg. Imported palm oil remained unchanged at the reduced level of Rs 299 per 10 kg exclusive of tax as fresh offerings remained restricted due to spurt in dollar value against rupee which has pushed lending cost upward, according to dealers. Buying interest however remained dull. In the global market prices ruled subdued at $570/575 per tonne. Castor oil slid by a rupee at Rs 272/284 per 10 kg as overseas demand was absent. Castorseed ready placed Rs 4 higher at R 1,204/1214 per quintal. In the futures section castorseed March delivery reacted from Rs 1176.50 to Rs 1169.50 per quintal on bull liquidation in the wake of hectic new crop supplies, floor sources said. Traders were reported higher arrivals of 35000/40000 bags of castorseed in the
Gujarat region. Delhi On inflow of a lorry from Palghat in Kerala, tamarind tumbled down by Rs 100 and inferior unseeded tamarind slumped by Rs 200 a quintal. Scattered arrival of new tamarind in Jagdalpur and Eastern India was reported to have commenced. On inflow of about 2000 bags of new ajwain daily in Vikarabad, its prices on the local market slumped by Rs 100 a quintal.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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