Introduction of voluntary price ceiling by traders and millers in the producing centres has curtailed supplies of groundnut oil to the Mumbai market, one broker said here.

Imported palm oil closed Rs 3 higher at Rs 375 per 10 kg exclusive of tax on fresh bulk buying followed by recovery in the world market. In the global market palm oil rose by $10 to $630 per tonne for ready delivery while forward deliveries were placed at $620/625 per tonne.

Castor oil edged up by a rupee to Rs 319/331 per 10 kg amidst thin overseas interest and weak dollar value against rupee. Castorseed ready closed lower at Rs 1429/1435 per quintal.

In the futuressection castorseed September delivery moved in a narrow range and finished quiet at Rs 1,431 per quintal.In Rajkot September delivery rose from Rs 1,431.50 to Rs 1,435 per quintal.

Bullion bounces back

Both the precious metals bounced back from the reduced level on the bullion market here today.

Standard gold rose by Rs 15 to Rs 4,280 per kg. Gold .22 crat was up by same margin at Rs 3,960 per 10 gm. Prices of gold biscuit (116.50 gm.) spurted by Rs 300 to Rs 50,400 per piece. Seasonal demand however was dull but speculators were active buyers amidst poor supplies and uncertain movements in the stock market. In the global market gold looked up at $293.75/294 per ounce.

Silver .999 recovered by Rs 60 to Rs 7,955 per kg. Silver .916 gained Rs 60 at Rs 7,830 per kg. in sympathy. Industrial demand was slow while poor inflow, acute shortage of ready stock and uptrend in the world market pushed prices higher, according to traders. In Delhi ready silver was placed at Rs 8010/8015 per kg. Forwarddelivery was available at Rs 7,985 per kg. In the global market the white metal rose from $5.31 to $5.39 per ounce.

Sugar better

A steady-to-better trend was noticed on the sugar market on buying support.M-30 at Rs 1475-1530 and S-30 at Rs 1460-1475 a quintal ex-godown, were up by Rs 5 to 7. Ex-octroi checkpost M-30 at Rs 1455-1460 and S-30 at Rs 1440-1450 were fully steady.

Among imported sugar, Pakistani ruled steady at Rs 1430 while EEC gained Rs 5 at Rs 1420 plus tax.

There were no tenders as the entire quantity for the current fortnight has been disposed off, averred trade sources.

Milling wheat spurts

A sharp rise in the price of inferior wheat provided main feature of trading on the grains market. Other items ruled more or less steady.

Milling wheat price shot up by Rs 25 a quintal following firm producing centre advices and ruled at Rs 680-685. Wheat Saurashtra Lokvan at Rs 725-775 and SW at Rs 900-1100 were steady. North Gujarat inferior wheat were also up by Rs 25 andruled at Rs 690. Superior were unchanged at Rs 750. MP 147 and Sarbati continued to be traded at Rs 900-1100 and at Rs 900-1400 respectively.

Rice Permal superior were placed at Rs 1100-1200. AP cultured kolam ruled at Rs 1100-1400. Punjab Sarbati and Tericot were on offer at Rs 1000-2100 and at Rs 1700-1800 respectively.

Among pulses, green peas USA ruled at Rs 1675-1700 and Canadian at Rs 1231-1241. White peas Canadian found sellers at Rs 1100. Moong Myanmar were placed at Rs 2000-2050. Australian gram were placed at Rs 1150-1175. Kabuli gram A-2 Mexican were quoted at Rs 3000-3100, Iranian at Rs 2500-2800, B-2 at Rs 2400-2500 and C-2 at Rs 1550-1600.

Cotton dull

A steady condition continued on the cotton market. Mill demand was modest but offerings were very restricted.

V-797 at Rs 16,400-16,600, Morbi Wagad at Rs 16,000 and Kala-ginned at Rs 15,700-15,800 a candy spot were steady. Sanker ruled in the range of Rs 19,000-23,000.

Punjab J-34 saw-ginned good average were mentioned at Rs2050-2150 and cart-selected at Rs 2200-2250 a maund. Bengal Deshi ruled at Rs 1630-1680.

Yarn lacklustre

A quietly steady condition was in evidence on the yarn market.Polyester yarn grey first quality of medium-sized units 80dn weft at Rs 80, warp at Rs 90, rotoset at Rs 86-87 and micro rotoset at Rs 100-101 a kg were static. 80/1000dn and 80/1500dn were mentioned at Rs 110 and at Rs 120 respectively.

In the case of 150dn, weft ruled at Rs 66-67, warp at Rs 77-78, single rotoset at Rs 71-72 and double rotoset at Rs 72-73.