Following weak demand from exporters and on offerings by the stockists due to tight money market conditions, common basmati rice tumbled down by Rs 50-100 at Rs 3400-4050 a quintal while rice permal ruled firm on good demand from exporters. Daily arrival of wheat in Delhi mandies improved to 20,000 bags. Daily arrival of wheat in Malwa areas of MP again improved to about one lakh bags, consequently, wheat dara there dipped by Rs 20 at Rs 500 a quintal. Demand in wheat, on the local market, from despatchers remained poor.

Kabligram recorded a sharp rise of Rs 100-150 at Rs 1850-2250 a quintal as crop in MP was reported poor. Gram Rajasthani improved by Rs 20 a quintal as daily arrival declined to 100 lorries from 120 lorries. Moong recorded a gain of Rs 50 at Rs 2100 a quintal due to paucity of quality goods coupled with good wedding demand. On inflow of new arhar from Rajasthan, Bihar and M.P.,prices dipped by Rs 25 a quintal.

Groundnut oil slides

Palmolein in Malaysia having touched $725 a tonne, declined to $702 a tonne and import of edible oils during the current month is expected about 40,000 tonnes. With rising mercury, consumption of oil was down and arrival of oilseeds was picking up. Arrival of new summer groundnut in Tamilnadu has since commenced and Mumbai traders were liquidating groundnut oil at cheaper rates. Consequently, groundnut oil slided down by Rs 150 at Rs 4200, superior sesame oil tumbled down by Rs 100 at Rs 4000 and cottonseed oils slumped by Rs 50 at Rs 3900 a quintal. Mustard oil also suffered a setback of Rs 30-40 at Rs 3700-3760 a quintal. NDDB procured tax-paid mustard oil at Rs 3750 a quintal on Monday.

Mumbai: Groundnut oil eased further on the oil,oilseeds market here today. Castorseed and its oil closed steady in the ready delivery while prices slipped in the forward market.

Groundnut oil fell by Rs 10 at Rs 402 per 10 kg amidst brisk suppliesfrom southern states, sluggish demand and weak upcountry advices. In Rajkot prices eased by Rs 10 at Rs 610 per 15 kg. Imported palm oil edged down by Rs 3 at Rs 374 per 10 kg exclusive of tax on hectic arrivals coupled with easy trend in the global market. In the overseas market palm oil placed lower at $690 as against $705 per tonne earlier for delivery. Forward deliveries were changed hands at $670/675 per tonne.

Castor oil ruled static at Rs 278/290 per 10 kg on scattered enquiries. Castorseed ready held at Rs 1232/1238 per tonne.

In the futures section castorseed June delivery moved down from Rs 1277.50 to Rs 1271.50 as weak Ahmedabad advices and continued supplies prompted fresh bull liquidation.

In Ahmedabad June delivery closed lower at Rs 1245.50 per quintal. Arrivals of castorseed in the Gujarat region remained higher at 55000/60000 bags, it was learnt.

Silver suffers

Silver suffered losses while gold on the local bullion market revealed a steady tendency.

New York silver futureslipped by 6 cents to about 620 cents an ounce and on inflow of about 8000 kgs. imported silver coupled with weak demand from Rajasthan, spot silver .999 was down by Rs 50 at Rs 8800 a kg. and silver weekly delivery, on unloading by the bulls, was down by Rs 65 at Rs 8745 a kg. Silver coins, too suffered a setback of Rs 100 at Rs 10,400-10,600 per 100 pieces.

Gold in London held steady at $308 an ounce and on smuggled inflow, gold biscuit, standard mint gold and gold sovereign held steady at Rs 4230, R.4240 per 10 gram and Rs 3500-3550 per 8 gram respectively.

Mumbai: Gold and silver lost gained ground on the bullion market here today.

Standard gold slid by Rs 10 at Rs 4,200 per 10 gm. Gold .22 carat reacted by same margin at Rs 3,885 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 100 at Rs 49,300 per piece. Seasonal buying was lower than expected while continued local supplies triggered selling pressure. In the global market it was quiet at $307.50/308 an ounce.

Silver .999declined by Rs 55 at RS 8,780 per kg. Silver .916 moved down by Rs 60 at Rs 8,665 per kg in sympathy. Industrial demand petered out while higher supplies of raw silver from local sources coupled with weak overseas advices put pressure on the market, according to dealers. In the global market at one stage the white metal slipped to $6.19/6.20 an ounce but later on bounced back to close at $6.30 an ounce.

Khandsari weak

On panic selling by the sugar millers, mill delivery sugar dipped by Rs 2-15 at Rs 1330-1470 a quintal. Following arrest of a sugar miller because of non-payment of cane dues to the farmers, millers were selling sugar at cheaper rates.

Mill delivery sugar Simbhauli was traded at Rs 1402, Bundki at Rs 1360 and tax-paid Dhampur and Devband was traded at Rs 1465 a quintal. Spot sugar prices slipped by Rs 10 at Rs 1460-1580 a quintal.

Khandsari too, was quoted lower by Rs 10-15 a quintal. No change was recorded in gur prices.

A. Twill slumps

Following weak advices fromCalcutta and declined buying by the sugar mills, A. Twill slumped by Rs 50 at Rs 2700 per 100 bags. Twines (3plyx14lbs and 9.5 lbs) were marked down by Rs 50 at Rs 1425 and Rs 1800-1850 per quintal on excess inflow . B. Twill (2 & 2, lbs) on all-round demand from rabi crops fillers shot up by Rs 50 at Rs 2050 and Rs 2350 per 100 sacks.