RIL has raised the prices of POY, all processed grey polyester yarn and PSF by Rs 3 a kg effective from June 2. The new price of POY 126dn has been fixed at Rs 60 and of 235dn at Rs 51 (exclusive of excise).Likewise, PSF price is raised to Rs 48. This is seen as a direct consequence to the imposition of 8 per cent special customs duty in the budget which has increased the landed cost.

The market prices have gone up by about Rs 4 in sympathy only. Thus,grey first quality of medium-sized units 80dn rotoset were placed at Rs 94-95, micro rotoset at Rs 100-102, weft at Rs 82-83 and warp at Rs 90-92.

80/1000dn at Rs 115-120 and 80/1400dn at Rs 120-125 were static. 150dn weft and warp were mentioned at Rs 70 and at Rs 82-83 respectively.Singlerotoset ruled at Rs 74-75 and double rotoset at Rs 75-76.

However, with the fabrics production remaining uneconomical and the slack season for the fabrics business having set in the overall undercurrent remained easy.

Cotton firm

A firm condition continued on the cotton market on reserved selling and steady buying support.

Despite yarn and fabrics business remaining very sluggish,cotton prices continued its upward march on the back of sustained buying support,shortage of quality lots and further hardening of the attitude of those holding the stocks. Gujarat cottons netted fresh gains of Rs 100 to 200 a candy. V-797 were up at Rs 15,500-15,700, Morbi wagad at Rs 14,900-15,000 and Kala-ginned at Rs 14,200-14,300 spot. Sanker superior were sought after at Rs 22,000.

The range was Rs 17,000-22,000. In Punjab zone,J-34 saw-ginned good average were placed at Rs 2030-2090, cart-selected at Rs 2160-2170 and Bengal Deshi at Rs 1600-1630 a maund.

Sugar reacts

Sugar price reacted slightly onreduced buying support ex-octroi checkpost.The price softened up by Rs 5 a quintal ex-octroi checkpost. M-30 were on offer at Rs 1465-1470 and S-30 at Rs 1450-1455. Ex-godown, price presented a better stance on restricted supplies.M-30 ruled at Rs 1500-1520 and S-30 at Rs 1465-1490.

In tenders, steady trend prevailed. M-30 were indicated at Rs 1430-1435 and S-30 at Rs 1415-1425. Pakistani sugar continued to be traded at Rs 1440 for out of the state deals.

Grains steady

A steady trend prevailed on the grains market. Activity was restricted.Tur Myanmar 1998 and 1997 were transacted at Rs 1811-1821 and at Rs 1700-1725 a quintal respectively. Green peas USA ruled at Rs 1625-1650 and Canadian at Rs 1225. White peas Canadian were placed at Rs 1025-1030. Urad Myanmar found sellers at Rs 1211. Moong Myanmar were traded at Rs 1750-1900.

Australian gram were quiet at Rs 1100-1125. Kabuli gram A-2 Mexican ruled at Rs 3000, Iranian at Rs 2500-2800, B-2 Turkish at Rs 2300-2400 and C-2 at Rs 1550. Rajmachitra deshi and imported were transacted at Rs 2500-2550 and at Rs 2450 respectively. Red rajma imported were placed at Rs 1900-1950. Wheat and rice ruled unchanged.

Bullion bounces back

Gold and silver prices bounced back on the back of smart recovery in the global markets here on the bullion market today.

Silver .999 shot up by Rs 105 at Rs 7,620 per kg. Silver .916 climbed up by Rs 95 at Rs 7,505 per kg in sympathy. Industrial demand for silver, however, remained dull. But traders were reported speculative buying following news of firm trend in the international market coupled with uptrend in dollar value against rupee. In Delhi, silver closed firm at Rs 7,610/7,620 per kg. In the global market, silver rose to $5.24/5.25 per an ounce.

Standard gold looked up by Rs 20 at Rs 4,200 per 10 gm. Gold .22 carat moved up by same margin at Rs 3,885 per 10 gm.

Prices of gold biscuit (116.50 gm.) hardened by Rs 300 at Rs 49,300 per piece. Seasonal buying continued, while poor supplies and higherglobal advices pushed gold prices upward after recent setback, it was said.Hike in the import duty of gold by finance minister also aided the firm tendency. In the global market, the yellow metal placed higher at $293/293.50 per an sounce.

Oil,oilseeds firm

Firm trend was noticed on the oil,oilseeds market here today. Castorseed and its oil placed higher as shippers remained active buyers on overseas interest in the wake of firm dollar value.

Groundnut oil rose from Rs 438 to Rs 445 per 10 kg amidst steady seasonal demand, limited supplies and bullish trend in the terminal market. In Rajkot prices up by Rs 10 at Rs 665/670 per 1l5 kg, it was learnt. Imported palm oil closed Rs 2 higher at Rs 379 per 10 kg exclusive of tax following recovery in the world market in the wake of rally in the dollar value. In the global market palm oil quoted higher from $650 to $652.50 per tonne.

Castor oil closed firm by Rs 4 at Rs 301/313 per 10 kg on hectic short covering by shippers. Castorseed ready spurtedby Rs 19 at Rs 1343/1349 per quintal.

In the futures section, castorseed September delivery forged ahead from Rs 1391 to Rs 1395.50 on steady bull support, while higher Ahmedabad advices prompted fresh short covering, according to floor sources.