Groundnut oil shot up from Rs 505 to Rs 517 per 10 kg on fresh festival buying while lack of ready stock and poor inflow kept offerings limited. Imported palm oil looked up by Rs 3 at Rs 355 per 10 kg exclusive of tax on fresh bull loading coupled with firm overseas advices. In the global market palm oil quoted $10 higher at $665/645 per tonne.

Castor oil closed Rs 2 higher at Rs 430/442 per 10 kg on steady shippers demand. Castorseed ready gained Rs 10 at Rs 1962/1968 per quintal in sympathy.

In the futures section today there was no trading in castorseed September delivery. December delivery commenced today at Rs 1,791 but closed lower at Rs 1,772.50 per quintal amidst nominal trading, floor sources said.In Gujarat castorseed spot delivery finished lower at Rs 420/422per quintal.

Bullion slips

Gold and silver prices reacted at the improved level on the bullion market here today. Standard gold declined by Rs 15 at Rs 4,200 per 10 gm. Gold .22 carat fell by same margin at Rs 3,885 per 10 gm. Prices of gold biscuit 116.50 gm. finished Rs 250 lower at Rs 49,350 per piece. Seasonal buying petered out at the improved level while fresh inflow, weak overseas advices and subdued trend in dollar currency triggered profit-taking. In the global market gold placed lower from $288.35 to $287 per ounce.

Silver .999 slipped by Rs 65 at Rs 8,155 per kg. Silver .916 was down by Rs 75 at Rs 8,035 per kg. Demand resistance from industrial buyers arrested the rally. Weak overseas advices and continued overseas supplies put pressure on the prices during the day, it was said. Delhi advices were weak. In the global market the white metal closed lower from $5.45 to $5.41/5.42 per ounce.

Cotton unchanged

Prices ruled quietly steady but the undercurrent was easy in thecotton market. Mill demand was very restricted. Offerings continued in the wake of satisfactory condition of the new crop. V-797 were on offer at Rs 15,700-15,900, Morbi wagad at Rs 15,300-15,400 and kala-ginned at Rs 14,600-14,700 a candy spot. Sanker ruled in the range of Rs 18,500-22,500.In Punjab zone, new crop J-34 saw-ginned October were placed at Rs 1865 while Bengal Deshi October and November were mentioned at Rs 1280-1310 and at Rs 1250-1270 a maund respectively.

Meanwhile, the unsold stock with the Maharashtra federation is placed around 7.5 lakh bales.

Grains steady

A quietly steady trend prevailed on the grains market. Activity was restricted.

Wheat price held steady mainly due to continued disruption in inflow from Gujarat in the wake of ongoing trade agitation. Milling wheat ruled at Rs 695-700, Saurashtra Lokvan at Rs 775-850, SW at Rs 900-1000 and north Gujarat at Rs 750-825. MP 147 were quoted at Rs 775-850 and Sarbati in the range of Rs 900-1500.

Rice Gujarat-17 were tradedat Rs 1375-1500. Punjab Tericot were transacted at Rs 1500-1800 and Sarbati in the range of Rs 1800-2200.

Among pulses, green peas USA ruled at Rs 1650-1675. Canadian superior found sellers at Rs 1180-1200, medium at Rs 1121-1131 and inferior at Rs 1111. White peas Canadian ready were on offer at Rs 1101 and August shipments at Rs 1021-1025. Tur Myanmar continued to be traded at Rs 1925 and at Rs 1825-1851 respectively.

Australian gram eased by Rs 25 at Rs 1325-1350 on dull offtake. Kabuli gram A-2 Mexican at Rs 3000, Turkish at Rs 2900, Iran at Rs 2800 and Australian at Rs 2700 were unchanged. B-2 were quoted at Rs 2500-2525 and C-2 at Rs 1550-1600. Moong and urad Myanmar were traded at Rs 1800-1900 and at Rs 1251-1261 respectively.

Yarn quiet

A very quiet condition continued in polyesters on the yarn market following very sluggish offtake.

With the operations at Bhiwandi running low by about 30 per cent due to poor fabrics demand and recurring power problem the offtake of polyester yarncontinued to be very low. Thus, the price continued to be bereft of any sign of improvement even at the low levels. Grey first quality of medium-sized units 80dn rotoset at Rs 86-87, micro rotoset at Rs 105-106, weft at Rs 85-86, warp at Rs 95-96 were quietly steady.

Sugar subdued

A slightly subdued condition was noticed on the sugar market following slack demand. Easing by Rs 2 to 3 a quintal M-30 were placed at Rs 1495-1540 and S-30 at Rs 1475-1500 a quintal ex-godown. Ex-octroi checkpost, M-30 were on offer at Rs 1478-1490 and S-30 at Rs 1457-1470.

In tenders, price shed Rs 5. M-30 were indicated at Rs 1435-1440 and S-30 at Rs 1420-1425 in Kolhapur line.

Among imported sugar, Pakistan was static at Rs 1405 plus tax.