Delhi, Feb 10: Barring Rajmash chitra, steady-to-weak conditions were witnessed on the Delhi grains and pulses market on Tuesday.In the absence of support from Maharashtra and the South coupled with inflow of new wheat in Gujarat and MP mandies, wheat dara, on the local market slipped by Rs 5 at Rs 620-630 a quintal. Wheat dara prices in Rajasthan and MP mandies ruled at Rs 570-600 per quintal. Roller flour mill atta and maida dipped by Rs 5-10 per bag while suji ruled firm on good demand from Eastern Indian buyers.
On weak UP advices, bajra plummeted by Rs 20-25 at Rs 325-375 a quintal and maize was down by Rs 20 at Rs 430-460 a quintal on selling pressure from UP coupled with lack of matching support.
Among pulses, good quality masoor suffered a setback of Rs 25 at Rs 1450 a quintal as daily arrival of masoor in Sagar-Bhopal line of MP was reported about 5-7,000 bags. Arhar prices revealed a firm tendency on good demand from Kanpur, Lucknow and Varanasi coupled with tight supply position. Rajmashchitra recorded a gain of Rs. 50 at Rs. 2225 a quintal amidst tight supply position.
Sugar remains subdued
Mill delivery sugar prices remained subdued because of increased inflow of imported sugar in Western and Southern India. Demand in sugar from Rajasthan, Punjab and Haryana buyers remained sluggish. Mill delivery sugar Bagpat was traded at Rs 1282, Najababad at Rs 1277, Modi at Rs 1372, Venus at Rs. 1337 and Titabi with moisture was offered at Rs. 1300 a quintal.
Soyabean oil flares up
Palmolein in Malaysia for March shipment further went upto $610 a tonne, consequently, import of edible oils suffered a setback and in the absence of offerings from upcountry mandies of Rajasthan, Punjab etc. mustard, soyabean and cottonseed oils recorded a sharp spurt of Rs 20-30 a quintal.
Demand in oils from vanaspati millers of Rajasthan was reported good. Palmolein in Mumbai firmed upto Rs 3100 a quintal and in Delhi, it was quoted at Rs 3350 a quintal.
Saffron shoots up
SaffronKashmiri, in the local spices market flared up by Rs 1000 at Rs 36000 a kg. amidst tight supply position while nutmeg and mace slipped by Rs 5-7 a kg. due to poor offtake.
Zeera and methi prices slumped by Rs 100 a quintal on weak producing centres advices while poppyseed recorded a sharp spurt of Rs 300-500 a quintal due to restricted supply from Rajasthan and MP. It was reported in the market that lorries were not available because of elections. Unseeded tamarind was traded at Rs 1800-2500 a quintal.
Among dry fruits, kishmish Kandhari climbed down by Rs 100 per 40 kgs. due to slack demand. Almond Afghani and dry dates of Pakistan revealed a mixed tendency.
Silver coins slump
White metal prices on the local bullion market continued their downward march while yellow metal revealed a firm tendency on Tuesday.
As compared to last Friday, New York silver future slipped by 15 cents to about 709 cents an ounce while on Monday, it touched a low of 705 cents an ounce. Though there was no arrivalof imported silver on Monday, yet, stock of silver with some importers was reported more then 20 tonnes.
Silver bars from adjoining areas were reported to be flowing into the local market. Consequently, imported spot silver prices slumped to Rs 8850 from Rs 9000 a kg. and desi silver prices slumped by Rs 100 at Rs 8650 a kg.
It was reported in the market that stockists are keen to buy gold by selling silver because yellow metal is likely to improve. There was no trading in silver weekly delivery and new deal is likely to commence on Tuesday. On increased offerings from UP and Haryana, silver coins slumped by Rs 200 at Rs 10,800-10,900 per 100 pieces.
Gold on the overseas market ruled firm at $299 an ounce and arrival of gold on Monday declined to 200-300kgs. from 400-500 kgs., consequently, gold biscuit and standard mint gold improved by Rs 5-10 at Rs 4070 and Rs 4090 per 10 gram respectively. Gold sovereign remained unchanged at Rs 3500-3525 per 8 gram. According to traders, further spurt in goldprices is ruled out because if the prices starts soaring, the Central Banks may liquidate their gold.
B. Twill down
Harapatta, B. Twill (2 & 2, lbs) and A. Twill were marked down by Rs 20-25 per 100 bags as the demand from Punjab, Haryana and Uttar Pradesh remained at an ebb and the sentiment was down also because of weak advices from Calcutta.
Hessians, also eased by Rs 5-10 per 91.4 metres. However, the market was held at the previous prices in twines and old gunny bags.
Hank yarn cheaper
In hank yarn, Jind (6) and Abohar (2-4 & 2-6) declined by Rs 2-5 per bundle on stockists and millers unloading while the demand was quiet poor on the part of handloom and powerloom units.
In cone yarn also, Setia and Hissar (4) were offered cheaper by Rs 5 on poor offtake. Deshi cotton prices were reported unchanged at Rs 1490-1535 per 40 kgs. in Haryana, Punjab and Rajasthan mandies as the estimation of cotton production was pegged further lower.
Chemicals dull
Following poor buyingresponse from the consumers units, trading in chemicals has fallen to negligible in market here. On tight supplies, safolite remained unchanged at Rs 86 per kg. Citric acid China at Rs 2800 per 50 kgs., mentha oil, menthol flake and bold at Rs 340, Rs 475 and Rs 530 per kg. Other chemicals remained unchanged and subdued.
bNickel plate declines
Tin ingot edged lower by Re one at Rs 341 per kg. as consumers demand declined on expectations of fresh arrivals.
Nickel plate (4x4 & 9x9) declined further by Rs 2 at Rs 304 and Rs 307 per kg. on about 60 tonnes arrivals from Russia while stainless steel and electroplating units demand was quiet poor. Nickel plate (4x24) also eased by Re. one per kg. With Sahadra industrial areas observing weekly holiday, copper wire scrap prices eased by 50 paise per kg. Zinc slab improved by 50 paise at Rs.70 per kg. on nearly 30 tonne sales for local consumers units. Other metals were unchanged.
MUMBAI
G'nut oil up Groundnut oil rose further on the oilseedsmarket here today due to sharp upsurge in its prices in Gujarat. Elsewhere, palm oil continue to improve on poor supply and firm overseas advices. Prices of castor oil, castorseeds, linseed oil and castorseed June contract also firmed up on good demand.
In the edible section, groundnut oil improved further by Rs.2 to close at Rs.365 from Rs.363 as its prices were quoted higher at Rs.548 per kg from Rs.545 at Rajkot. Groundnut bold held steady at yesterday's Rs.1940. Palm oil prices rose by Rs.3 to settle at Rs.311 from Rs.308.
In the non-edible section, castor oil commercial edged upto Rs.279 from Rs. 278.50 and castorseed Madras rose to Rs.1243 from Rs.1241 on fresh demand from soap manufacturers and exporters. However, linseed bold held steady at Rs.1300. In the futures section, castorseed June contract rose further by Rs.5 to settle at Rs.1265. However, prices of March contract, after touching a high of Rs.1225.50, closed at yesterday's closing level of Rs.1222. Palm oil prices spurted from Rs 308 toRs 311 per 10 kg. In the international market,it was placed at $625/630 per tonne.
Silver declines
Silver prices bounced back after early losses on the bullion market here today. Gold,on the other hand,forged ahead on seasonal buying interest.
Silver .999 opened Rs 110 lower at Rs 8,705 per kg on news of fresh plunge in the world market. Later on prices bounced back to close the day at Rs 8,735 with a net overnight loss of Rs 80 per kg. Likewise silver .916 moved in both ways and settled Rs 40 lower at Rs 8,620 per kg. Industrial demand, however,was thin but eased supplies of raw silver and late recovery in the international market pushed prices upward towards close, dealers said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
