DELHI, March 16: On discouraging Cochin advices, black pepper crashed to Rs 19,700-25,500 from Rs 21,000-26,500 a quintal while superior dry ginger recorded a sharp spurt of Rs 500 at Rs 8500 a quintal on Monday on firm Kerala advices.Cardamom small recorded a gain of Rs 10 a kg on reports of loss to crop.Cinnamon edged up by Rs 5-8 at Rs 98-100 a kg as smuggled inflow was reported negligible. Among dry fruits, almond California flared up by Rs 100 per 40 kgs. and its kernel looked up by Rs 3 a kg. due to restricted supply by the importers.
An easy-to-firm tendency was noticed on the Delhi grains and pulses market on Monday. Kochi: Black Pepper prices rallied smartly on the international commodity exchange for pepper here on Monday on a good demand for long-term futures, dealers said.
There was a good demand for long-term July futuresleading to sharp rise in the prices, they said. Arrivals were lower in contrast to the rising demand.In Monday's trading, July contracts closed higher at Rs 20,200 aquintal against Rs 19,800 during previous trading, while June contracts closed at Rs 20,150 against Rs 19,850.
May and April contracts ended up on a higher note at Rs 20,425 a quintal against Rs 20,150 during previous trading. In spot trading, garbled pepper was quoted at a higher Rs 20,000 a quintal against 19,700, while ungarbled closed at Rs 18,300-19,300 against 18,000-19,000.
Wheat remains subdued
On reports that rabi crops suffered a loss because of unfavourable weather conditions, speculators became active, consequently, gram Rajasthani flared up by Rs 55 at Rs 1425 a quintal and Kanta gram of MP recorded a gain of Rs 25 at Rs 1150 a quintal. Similarly, despite inflow of about 20 lorries, masoor climbed upto Rs 1200-1360 from Rs 1150-1350 a quintal.
Arrival of wheat on the local market was reported about 8000 bags, but due to weak upcountry demand, wheat dara prices remained subdued and roller flour mill atta and maida slipped by Rs 5 per bag. About 3000-3500 bags of maida and suji weretraded at Rs 525-530 and Rs 585-593 per bag respectively.
Arrival of non-basmati rice was reported about 13,000 bags. Demand in rice sela permal was reported good from Maharashtra and in sela permal from Bihar, West Bengal and Orissa. Deals for about 20-22 lorries were settled by the upcountry buyers.
Sugar narrow
According to trading sources, arrival of Pakistani sugar in Mumbai and Punjab borders, was reported good. In Mumbai, it was quoted at Rs 1390 and in Punjab at Rs 1400 a quintal. Brazil sugar in Mumbai was priced at Rs 1335 a quintal. Consequently, business in mill delivery sugar remained negligible on increased inflow of imported sugar.
Khandsari dust and sulphur was down by Rs 15-25 a quintal due to lack of support. Delhi Border delivery Morna sugar tax-paid was quoted at Rs 1340 a quintal.
Soyabean oil gains
Despite inflow of about 10,000 bags mustard at Lawrence Road from the neigbouring states, quality mustard laha firmed up by Rs 25 at Rs 1325 a quintal on hecticbuying by the stockists.
Soyabean oil in Indore shot up by Rs 80 at Rs 3010 a quintal, consequently, it recorded a gain of Rs 50 at Rs 3200 a quintal on the local market.Sesame oil was up by Rs 50 a quintal while cottonseed oil tumbled down by Rs 40 at Rs 3260 a quintal due to slack demand from vanaspati millers. It was reported that Argentina exporters were offering India delivery sunflower oil at $675 a tonne, which was cheaper than Malaysian palmolein.
Refined groundnut oil, mustard and soyabean oil refined in tins looked up by Rs 10-20 a tin. Palmolein in Mumbai firmed up by Rs 30 at Rs 3270 a quintal and on the local market palmolein recorded a sharp spurt of Rs 100 at Rs 3550 a quintal.
Mumbai: Groundnut oil rose sharply on the oilseeds market here on Monday on good demand coupled with firm Gujarat advices. Palm oil and castor oil also closed better on sluggish arrivls and good industrial demand respectively.Futures market remained closed due to trade bandh.
In the edible section, groundnut oilrose by Rs 6 to end at Rs 376 from the last close of Rs 370. However, groundnut bold remained steady at Rs 1940. Palm oil gained Rs 3 at Rs 326 from Rs 323 on poor arrivals.
In the non-edible section, castor oil commercial edged up by a rupee to finish at Rs 267 from Rs 266 and castorseed Madras improved by Rs 5 to close at Rs 1186 as against the last close of Rs 1181 on good soap industries' and exporters' offtake. Linseed oil at Rs 330 and linseed bold at Rs 1300 showed no change on restricted activity.
Bullion slips
Both the precious metals lost their shine on the Delhi bullion market on Monday.
Silver in Hong-Kong in the morning ruled easy at 614 cents an ounce, consequently, on selling pressure, silver weekly delivery slumped by Rs 45 at Rs 8545 a kg. and spot silver .999 was down by Rs 40 at Rs 8560 a kg, but there was no transaction in silver.
Indigenous silver, however, held steady at Rs 8550 a kg. due to decline in inflow. Silver coins remained unaltered at Rs 10,000-10,300 per 100pieces.There was consistent inflow of gold through MMTC and banks. Gold biscuit and standard mint gold slipped by Rs 10-15 at Rs 4040 and Rs 4055 per 10 gram respectively due to weak demand. Gold sovereign remained unchanged at Rs 3450-3475 per 8 gram.
B Twill spurts
B. Twill (2 & 2, lbs) were marked sharply up by Rs 25-50 at Rs 2100 and Rs 2350 per 100 bags on buoyant price trend reported from Calcutta. A. Twill shot up by Rs 50 at Rs 2650 per 100 bags on tight supplies. Harapatta, hessians and twines, however, traded at the previous prices on firm note.
Hosiery yarn easy
Hank yarn (2-20) and hosiery yarn (30) eased by Rs 2-5 per bundle on poor offtake whereas coarse counts yarn traded at the previous rates firmly on better demand from powerloom and handloom units coupled with steady prices of desi cotton in Haryana, Punjab and Rajasthan.
Thymol down
Thymol edged down by Rs 10 at Rs 450 per kg on poor local and upcountry demand.
Paraffin wax also lost Rs 25 per 50 kgs. onexpectations of increase in import. Sodium hydro sulphite China and Gulshan declined by 50 paise to Re 1 per kg. Other chemicals remained unchanged.
Copper firms up
Copper wire bar, rod and its wire edged up by Rs 5.50-5.75 at Rs 119, Rs 123 and Rs 127 per kg following news that HCL had hiked sales price of copper wire bar by Rs 6 per kg. Copper utensils, mixed, scrap and accessories also firmed up by Rs 3.50 at Rs 95 and Rs 105-107 per kg. Tin ingot, on the other hand, declined by Rs 6 at Rs 340 per kg as the market received nearly 12 tonnes of the metal. Zinc slab also eased by 25 paise a kg on declined trade enquiry.
Rubber steady
Kottayam: Natural rubber prices ruled flat to steady on the primary market here on Monday on restricted arrivals and significant purchases by state-owned agencies, dealers said.
State-owned agencies like rubco and rubbermark bought substantial quantities leading to a steady trend, especially for lot rubber, they said.
In Monday's trading, prices for rssfour were flat at Rs 26.75 a kg, while at Kochi, the other major centre, it also closed flat at Rs 26.50.
Lot rubber prices moved up on procurement to Rs 25.75 a kg from Rs 25.50 during previous trading, both here and in Kochi. International prices were up on good futures demand with prices of rss three, the one comparable with India's rss four, improving to Rs 2809 a quintal from Rs 2774 during previous trading.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
