Groundnut oil rose by Rs 15 to Rs 565 per 10 kg amidst thin supplies followed by acute shortage of ready stock coupled with seasonal buying and delay in third round of rain in the Gujarat region.

Imported palm oil edged up a rupee to Rs 364 per 10 kg exclusive of tax owing to harder dollar value. Trading activity was at a low ebb today.

Castor oil closed Rs 5 higher at Rs 442/452 per 10 kg. on fresh covering by shippers. Overseas enquiries were encouraging. Castorseed ready shot up by Rs 24 to Rs 2020/2026 per quintal.

In the futures section castorseed December delivery rose from Rs 1796 to Rs 1810 before concluding the day at Rs 1805 per quintal on fresh bull buying.

Firm Ahmedabad advices also prompted short covering, floor sources said. In the Gujarat region castorseed initially placed higher at Rs 408/410 per 20 kg but later on reacted to Rs 400/402 on higher supplies - 4000/5000 bags, it was learnt. Castor oil opened firm at Rs 438/440 per 10 kg and closed the day lower at Rs 432.

Gold bounces back

Gold prices bounced back while silver ruled steady in a narrow band on the bullion market here today.

Standard gold moved up by Rs 35 to Rs 4,245 per 10 kg. Gold .22 carat gained by Rs 30 at Rs 3,925 per 10 gm. Prices of gold biscuit (116.50 gm.) lifted by Rs 350 at Rs 49,750 per piece. Physical demand improved for ensuing festivals whsile poor supplies and firm overseas advices kept offerings limited. Rally in dollar prices against rupee also pushed gold upward. In the global market gold placed higher from $283.75 to $285.15 per ounce.

Silver .999 moved in both ways and closed steady at Rs 7,900. Silver .916 finished Rs 10 higher at Rs 7,800 per kg. on stray physical support. In the global market the white metal subdued to $5.11/5.12 per ounce. The local market remained weak towards close following continued inflow, it was learnt.

Grains quiet

A quiet tendency prevailed on the grains market as the volume of business remained restricted.

Among imported pulses, green peas USA were on offer at Rs 1650 and Canadian in the range of Rs 1040-1075 a quintal. White peas Canadian ready were placed at Rs 1115 and September/October shipments at Rs 975-1000. Urad Myanmar were traded at Rs 1225-1230.

Moong Myanmar were quoted in the range of Rs 1900-2000. Deshi moong new crop at Gadag in Karnataka were up at Rs 2200-2300 due to interruption in the inflow caused by rains. Polished went up to Rs 2400-2600. Trade sources consider this as a temporary phenomena and expected the values to seek lower levels as the arrivals pick up.

Australian gram had changed hands at Rs 1311. Kabuli gram A-2 Mexican were placed at Rs 2900-3000, Turkish/Iranian at Rs 2700-2750, B-2 at Rs 2550, C-2 at Rs 1500-1550 and natural at Rs 2100-2200.

Rajma chitra deshi dropped down from the peak level of Rs 3200 to Rs 3050 in the wake of bearish Delhi advice to the tune of Rs 150. Cotton steadyA steady trend prevailed on the cotton market on dull mill demand and limited stocks.

V-799 were placed at Rs 15,600-15,900, Morbi Wagad at Rs 15,300-15,400 and kala-ginned at Rs 14,500-14,600 a candy spot. Sanker ruled in the range of Rs 18,500-22,500.

Among Punjab zone cotton, Bengal Deshi were placed at Rs 1540-1600, J-34 saw-ginned good average at Rs 1850-1900 and cart-selected at Rs 1980-2150 a maund.

Forward quotations for September were placed at Rs 1450, October at Rs 1310-1340 and November at Rs 1300.

The Maharashtra federation has cut the price of super FAQ by Rs 300, of "Further" quality by Rs 500 and of others by Rs 200 a candy, it was gathered. The federation is holding a stock of around 5 lakh bales of Further quality and 2 lakh bales of fair quality. The stocks in other parts of the country is placed at 6 lakh bales.

The standing crop in Gujarat is said to be in need of rains.

Sugar dips

Sugar values crashed following special release for September.The release of an additional quantity of 50,000 tonnes for free sale during September caused a sudden spate of heavy offerings knocking out Rs 20 a quintal from the price in the process.

M-30 slumped to Rs 1450-1460 and S-30 to Rs 1425-1435 a quintal ex-octroi checkpost. In early deals the price ruled at Rs 1470-1555 and at Rs 1445-1490 respectively ex-godown.

In tenders also with similar fall M-30 were indicated at Rs 1395-1400 and S-30 at Rs 1380-1385 in Kolhapur line.

Yarn dull

A dull condition prevailed on the yarn market.

Viscose filament yarn bright cones first quality Century Rayon 150dn ruled at Rs 224, 120dn at Rs 245, 100dn at Rs 258 and 75dn at Rs 269 a kg.