Meanwhile silver .999 dropped by Rs 75 to Rs 7,900 per kg. Industrial demand turned sluggish at higher level while continued supplies of raw silver from local sources and weak overseas advices triggered unloading by stockists. In the global market silver was subdued to $5.34/5.35 per ounce.

G'nut oil ends lower

Groundnut oil suffered a modest loss from the peak level on the oil,oilseeds market here today. Castorseed and its oil ruled steady in the ready delivery while prices eased in the forward market.

Groundnut oil edged down by a rupeeto Rs 502 per 10 kg amidst demand resistance while brisk inflow of imported edible oil prompted light profit-taking. In Rajkot it was quiet at Rs 685 per 15 kg.

Imported palm oil eased by Rs 2 to Rs 382 per 10 kg exclusive of tax on fresh offerings by importers following improved arrivals at Mumbai port. In the global market prices rose to $660 per tonne in the wake of hike in the export duty by Indonesia. Long deliveries were quoted at $655/645 per tonne.Castor oil maintained at the improved level of Rs 338/350 per 10 kg on stray overseas enquiries. Castorseed ready held at Rs 1520/1526 per tonne on nominal trading.

In the futures section castorseed September delivery declined by Rs 1.50 at Rs 1446.50 on bull unloading.

In Ahmedabad September delivery went off the board at the rate of Rs 1485 per quintal. Arrivals of castorseed in the Gujarat region remained slow due to closure of major mandies on account of `Guru Purnima', it was learnt.

Yarn improves

A slightly better tendency was inevidence in polyesters following improved activity.

Gaining Rs 2 a kg grey first quality of medium-sized units 80dn rotoset rose to Rs 86-87, weft to Rs 83-84 and warp to Rs 93-94. 80dn micro rotoset firmed up by Rs 5 on higher Surat advice and ruled at Rs 108-110.150dn ruled steady. Weft were placed at Rs 66-67, warp at Rs 76-78, single rotoset at Rs 70-71 and double rotoset at Rs 72-73.

Meanwhile, Relaince Industries Ltd (RIL) has hiked the price of micro POY by Re 1 a kg at Rs 61 (exclusive of excise).

Sugar further up

A better tendency continued on the sugar market following lower arrivals.Transport bottleneck and reduced supply of imported goods gave a fresh boost of Rs 5 a quintal to the price. M-30 were up at Rs 1495-1540 and S-30 at Rs 1470-1485 ex-godown. Ex-octroi checkpost, M-30 were quoted at Rs 1475-1485 and S-30 at Rs 1455-1470.

In tenders also price gained Rs 5. M-30 were indicated at Rs 1430-1435 and S-30 at Rs 1410-1420 in Kolhapur line.

Among imported sugar only Dubai wasavailable and was steady at Rs 1430 plus tax.

Cotton softens

Cotton market displayed softening up trend on reduced buying support and change in the sentiment caused by satisfactory progress of monsoon.Short and medium staple items of Gujarat registered loss of Rs 200 a candy. V-797 were placed at Rs 16,100-16,300, Morbi wagad at Rs 15,600-15,700 and kala-ginned at Rs 15,100 spot. Sanker were steady in the range of Rs 19,000-23,000.

Punjab J-34 saw-ginned good average at Rs 2035-2100 and cart-selected at Rs 2200-2250 a maund were steady. Bengal Deshi were edged up by Rs 15 at Rs 1640-1690.

Delhi:

Output of palm oil during June in Malaysia moved up by 10 per cent to 60 lakh tonnes, consequently, palmolein prices dipped by $2.5 to $652.50 a tonne.

As a result, mustard oil tax-paid ruled easy due to slack demand at higher rates while groundnut, sunflower and cottonseed oils recorded a further rise of Rs 10-40 a quintal amidst tight supply position.

Among industrial oils, castor oilrecorded a sharp spurt of Rs 150 at Rs 3450 a quintal as there was no supply from Gujarat. As against this, in the expectation of inflow of new crop goods from Gujarat and the South shortly, neem oil slumped by Rs 75 at Rs 2375 a quintal.

Kalaunji flares up

Black pepper golden, on the local spices market flared up by Rs 300 at Rs 20,500 per quintal on firm producing centres advices coupled with restricted supply and Kalaunji showed an alarming rise of Rs 100-500 a quintal on zooming demand from local as well as upcountry pickle manufacturers.

Nutmeg and mace, however, slipped by Rs 10-25 a kg. on smuggled inflow.Among dry fruits, almond California and its kernel showed improvement because of mutual buying and selling by the stockists. Copra Calicut revealed a firm tendency.