Groundnut oil shot up by Rs 12 at Rs 530 per 10 kg owing to acute shortage of ready stock while buyers remained active ahead of festival season. In Rajkot prices ruled quiet at Rs 685 per 15 kg. Imported palm oil here quoted Rs 2 higher at Rs 354 per 10 kg exclusive of tax on fresh bull loading.

Recovery in the international market followed by rally in the dollar value arrested fresh offerings by local importers. In the global market palm oil quoted higher from $667.50 to $679 per tonne for ready delivery. Forward deliveries were available at $665/645 per tonne.

Castor oil slipped by Rs 20 at Rs 408/420 per 10 kg on demand resistance by overseas buyers while local stockists and millers were booking profit at higher level. Castorseed ready nosedived from Rs 1,952/1,958 to Rs1,856/1,862 per quintal in sympathy.

In the futures section castorseed December delivery slipped from Rs 1714.50 to Rs 1674 before settling at Rs 1675.50 on heavy bull unloading following news of sharp setback in the Ahmedabad market. Steady progress of monsoon in the producing centre also prompted hammering by bear operators.

In Gujarat region castorseed ready delivery droped to Rs 360 per 20 kg. Castor oil eased to Rs 390 per 10 kg.

Bullion divergent

The yellow metal bounced back from the lower level while silver moved in both ways and closed with a modest loss on the bullion market here today.

Standard gold moved up by Rs 10 at Rs 4,210 per 10 gm. Gold .22 carat rose by same margin at Rs 3,895 per 10 gm. Prices of gold biscuit (116.50 gm.) hardened by Rs 250 at Rs 49,550 per piece. Festival buying improved at the lower level while eased supplies and firm overseas advices pushed gold prices upward, dealers said. Bullish trend in dollar currency against rupee also triggered speculativebuying for gold at lower level, they added.

In the global market gold looked up from $285.10 to $286.15 per ounce.

Silver .999 opened Rs 65 lower at Rs 7,935 per kg on higher overseas supplies but later on prices recovered to close the day at Rs 7,975 on renewed industrial and speculative support in the wake of recovery in the global market. In the overseas market silver rose from $5.20 to $5.25 per ounce.

In Mumbai silver .916 moved in both ways before closing Rs 25 lower at Rs 7,850 per kg. In Delhi silver forward delivery placed higher at Rs 7,990 and ready delivery was traded at a discount of Rs 50/60 per kg it was learnt.

Sugar declines

An easy tone prevailed on the sugar market following slack demand.

Prices ruled weak by Rs 3 to 5 a quintal. M-30 were placed at Rs 1480-1550 and S-30 at Rs 1460-1495 ex-godown. Ex-octroi checkpost, the former were on offer at Rs 1460-1470 and S-30 at Rs 1440-1450.

Delivery orders of mills were placed at Rs 1420-1425 for M-30 and at Rs 1395-1400 forS-30 in Kolhapur line.

Among imported sugar, Pakistan sugar price declined by Rs 5 at Rs 1400 while Dubai were static at Rs 1420 plus tax.

Milling wheat hardens

Milling wheat price firmed up on the grains market. Elsewhere, a quietly steady trend prevailed.

Following higher Gujarat advice, coupled with better buying support milling wheat price hardened by Rs 15 a quintal at Rs 685-690. Other wheat ruled steady. Saurashtra Lokvan were placed at Rs 775-825, SW at Rs 900-1000, north Gujarat at Rs 725-775, MP 147 at Rs 775-850 and Sarbati in the range of Rs 900-1400.

Rice Gujarat-17 at Rs 1400-1500, Peramal FCI at Rs 850-950 and superior at Rs 1150-1250 were steady.

Among pulses, green peas USA were on offer at Rs 1650-1675, Canadian inferior at Rs 1111, medium at Rs 1121-1131 and superior at Rs 1150-1160.

White peas Canadian ready and August shipments at Rs 1125-1130 and at Rs 1025 respectively ruled unchanged. Tur Myanmar 1998 were traded at Rs 1971 and 1997 at Rs 1850. Urad Myanmar foundsellers at Rs 1200-1225. Moong Myanmar were in demand at Rs 1875-1950.

Rajma chitra deshi and imported were transacted at Rs 2800 and at Rs 2600 respectively. Red rajma imported were mentioned at Rs 1900-1950.

Cotton steady

A steady trend continued on the cotton market. Activity was restricted.V-797 were placed at Rs 15,500-15,800, Morbi wagad at Rs 15,300-15,400 and kala ginned at Rs 14,700-14,800 a candy spot. Sanker were placed at Rs 18,500-22,500.

Trading in new crop Punjab cotton has been negligible.

Yarn dull

A dull condition continued on the yarn market. Prices ruled quietly steady.

Polyester yarn grey first quality of medium-sized units 80dn rotoset were on offer at Rs 85-86 and micro rotoset at Rs 107-108 a kg. 80dn weft and warp were placed at Rs 84 and at Rs 94 respectively. 150dn weft ruled at Rs 66-67 and warp at Rs 77-78.

Among Nylons, Shreelon 15/1/0dn were placed at Rs 265 and 20/1/0dn at Rs 231. 111/24/0dn Gujnil were on offer at Rs 160.