Following higher producing centre advices due to lack of sufficient rains in several areas the price of urad shot up further from Rs 1271 to Rs 1325 a quintal for Myanmar materials. Tur price also netted fresh gains of Rs 25 as Myanmar 1998 were in demand at Rs 2100 and 1997 at Rs 2000. Australian gram also looked up by Rs 50 at Rs 1450 as deshi were sought after at Rs 1400 ex-producing centres. White peas Canadian also hardened by Rs 50 at Rs 1200 on tight supply coupled with sustained buying support.

Green peas USA at Rs 1700 and Canadian at Rs 1191-1200 were unchanged. Kabuli gram A-2 Mexican at Rs 3200, Iranian at Rs 2900, B-2 at Rs 2550-2700 and C-2 at Rs 1600 were maintained. Rajma chitra deshi ruled at Rs 2800, imported at Rs 2600 and red rajma imported at Rs 2025-2050.

Milling wheat were on offer at Rs 711-715 a quintal. Wheat Saurashtra Lokvanwere traded at Rs 775-825 and north Gujarat at Rs 750-825. MP 147 and Sarbati contiuned to be traded at Rs 750-950 and at Rs 900-1300 respectively.

Rice SLO were transacted at Rs 1000-1100. Permal medium and superior found offerings at Rs 875-950 and at Rs 1150-1200 respectively. Gujarat-17 were transacted at Rs 1400-1600.

Sugar subdued

A dull-to-subdued condition was noticed on the sugar market in the wake of restricted volume of business.

M-30 at Rs 1460-1470 and S-30 at Rs 1440-1450 a quintal ex-octroi checkpost were down by Rs 5. Ex-godown, M-30 at Rs 1490-1525 and S-30 at Rs 1465-1488 were static.

Dubai sugar continued to be quoted at Rs 1430 plus tax.

Gold bounces back

Gold prices bounced back sharply while silver was divergent on the bullion market here today.

Standard gold recovered by Rs 30 at Rs 4,270 per 10 gm. Gold .22 carat climbed up by the same margin to Rs 3,950 per 10 gm. Prices of gold biscuit (116.50 gm.) jumped up by Rs 400 to Rs 50,100 per piece. Physicaldemand was dull but thin supplies, lack of ready stock and firm dollar value followed by recovery in the global prices prompted speculative buying in the local market. In the overseas market gold rose to $292.50/292.60 per ounce.

Silver .999 recovered by Rs 20 at Rs 8000 per kg on eased supplies. Renewed industrial buying and higher Delhi and overseas advices also influenced the recovery. In the ready section silver .916 however eased by Rs 10 to Rs 7,850 per kg. amidst nominal trading. In the overseas market the white metal placed at $5.34/5.35 per ounce.

Yarn dull

Activity was modest and centred round the polyesters on the yarn market. Viscose and nylons were dull.

Viscose filament yarn bright cones first quality Century Rayon/Indian Rayon 150dn ruled at Rs 224, 120dn at Rs 245, 100dn at Rs 258 and 75dn at Rs 275 a kg. 120dn dull cones were placed at Rs 253.

G'nut oil recovers

Groundnut oil recovered from the reduced level on the oil,oilseeds market here today. Castorseed and itsoil shot up on the back of sustained short covering by bears and shippers following steady overseas interest.

Groundnut oil moved up by Rs 5 to Rs 497 per 10 kg on fresh physical demand ahead of Hindu festival while thin supplies and shortage of ready stock kept offerings limited. In Rajkot it was quiet at Rs 685 per 15 kg.

Imported palm oil eased by Rs 2 at Rs 368 per 10 kg exclusive of tax following continued inflow at Mumbai port. Setback in the world prices also triggered fresh selling by local importers. In the global market palm oil opened lower at $655 and closed at $657.50 per tonne. Castor oil rose by Rs 6 to Rs 366/378 per 10 kg on fresh buying by leading shippers ahead of shipment while firm overseas advices, poor supplies and fresh rally in the dollar value kept offerings limited. Castorseed gained by Rs 29 at Rs 1655/1661 per quintal in sympathy.

In the futures section castorseed September delivery forged ahead by Rs 8 at Rs 1462 per quintal on steady bull loading. Volume of trading was ata low ebb.

In Ahmedabad, Exchange authorities had decided to suspend trading in castorseed forward delivery for 3 days following wide fluctuations in the prices. In Gujarat region castorseed spot delivery quoted at Rs 330/335 per 20 kg. Castor oil rose to Rs 355/360 per 10 kg on sustained enquiries by shippers.

Cotton steady

A steady trend continued on the cotton market. Activity was limited.V-797 were placed at Rs 16,200-16,400, Morbi Wagad at Rs 15,800-15,900 and Kala-ginned at Rs 15,300 a candy. Sanker ruled in the range of Rs 19,000-23,000.

Among Punjab cotton, J-34 saw-ginned good average ruled at Rs 2035-2150 and cart-selected at Rs 2200-2250 a maund spot. Bengal Deshi ruled at Rs 1625-1675.