Kabuli gram price slumped by Rs 200 to 300 a quintal on heavy offerings triggered by poor offtake and sharp drop in the quotation of Australian gram. A-2 Mexican plummeted from Rs 3200-3300 to Rs 3000. Turkish fell to Rs 2900 and Iranian to Rs 2700. B-2 were on offer at Rs 2300-2400. C-2 lost Rs 50 at Rs 1500-1550. Iranian natural kabuli were quoted at Rs 2100-2200.

Australian gram lost further Rs 50 at Rs 1250. Moong deshi crashed by Rs 200 on improved supply of the domestic crop. Medium were placed at Rs 1350-1400 and superior at Rs 1700-1800 ex-producing centres. In sympathy, Myanmar moong also slumped by Rs 100 at Rs 1600-1650. Tur Myanmar 1998 at Rs 1850 and 1997 at Rs 1750 also turned cheaper by Rs 50. Rajma red imported fell from Rs 1900 to Rs 1850. Chitra rajma were in restricted supply.

Bullionhardens

Both the precious metals hardened further on the bullion market here today.

Standard gold shot up by Rs 60 to Rs 4,130 per 10 gm. Gold .22 carat rose by Rs 55 to Rs 3,820 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) hardened by Rs 700 to Rs 48,400 per piece. Festival buying improved at the lower level while higher overseas advices and eased supplies fueled fresh buoyancy in the bullion market. In the global market the yellow metal climbed from $280.50/281 per ounce from the recent low of $273.50 recorded last week which was lowest level of last 18-years. Silver .999 on the other hand gained by Rs 115 to Rs 7,390 per kg. Silver .916 moved up by same margin at Rs 7,285 per kg. Industrial and seasonal demand improved while firm upcountry and overseas advices arrested fresh offerings by stockists and banks. In the global market the white metal moved up by 10 cents to $4.84/4.85 per ounce.

Yarn listless

A listless condition continued on the yarn market following slackdemand.

With the capacity utilisation in Bhiwandi powerlooms continuing to be 30 to 35 per cent below normal and also the fabrics market languishing under virtual price war even during this time when the activity noticeably picks up, the polyester yarn price remained depressed.

Grey first quality of medium-sized units 80dn rotoset were placed at Rs 79-80, micro rotoset at Rs 100 and weft at Rs 76-77 a kg. 150dn weft were on offer at Rs 61.

G'nut oil suffers

Groundnut oil eased further on the oil,oilseeds market here today. Castorseed and its oil however extended gains on fresh covering by shippers coupled with acute shortage of nearby supplies.

Groundnut oil slipped further to Rs 575 from Rs 588 per 10 kg previously amidst poor buying interest while continued supplies and fear of strigent action by government triggered panic among local stockists and millers. In Rajkot prices dropped by Rs 20/25 to Rs 800 per 15 kg.

Imported palm oil slid by Rs 2 to Rs 372 per 10 kg exclusive of tax amidstsluggish demand and improved offerings. In the global market palm oil declined by $5 to $710/715 per tonne for spot delivery while forward deliveries were quoted lower at $690/665 per tonne.

Castor oil jumped up by Rs 12 to Rs 517/529 per 10 kg on fresh buying by leading shippers. Castorseed ready gained Rs 48 to Rs 2,380/2,386 per quintal in absence of ready stock.

In the futures section castorseed December delivery bounced back by Rs 20 to Rs 1,898 per quintal on fresh bull buying while firm Ahmedabad advices prompted covering by bears, floor sources said.

In Ahmedabad December delivery rose from Rs 1,927 to Rs 1,970 and in kerb deal, it was quoted higher at Rs 1,976 per quintal, it was learnt.

In the Gujarat region castorseed ready delivery placed firm at Rs 465 per 20 kg. Castor oil placed higher at Rs 510 per 10 kg.

Cotton steady

A quietly steady condition was in evidence on the cotton market. Activity was thin. Undertone remained easy due to the prospect of a good crop.

V-797 wereplaced at Rs 15,500-15,800, Morbi wagad at Rs 15,100-15,200 and kala ginned at Rs 14,500-14,600 a candy spot.

In Punjab zone, ready Bengal deshi saw-ginned were quoted at Rs 1620-1640, J-34 saw-ginned good average at Rs 1800-1850 and cart-selected at Rs 1940-2040 a maund.

In forward, new crop Bengal deshi roller-ginned October Punjab ruled at Rs 1370-1380, Rajasthan at Rs 1350-1365 and Haryana at Rs 1360-1370. November delivery Haryana were placed at Rs 1310-1320 and Rajasthan at Rs 1320-1335.

Haryana J-34 saw-ginned good average October ruled at Rs 1800-1810 and November at Rs 1750-1760.

Sugar further down

A weak trend continued on the sugar market following persistant slack demand.The offtake remained slack both on the local market and in tenders. The offerings continued to be on the high side, as a result. This has pushed down the quotation ex-godown by Rs 10 and in others by Rs 5 a quintal. M-30 were placed at Rs 1435-1510 and S-30 at Rs 1410-1450 ex-godown. Ex-octroi checkpost, theformer were quoted at Rs 1410-1420 and the latter at Rs 1390-1400.

In tenders also with a decline of Rs 5, M-30 were indicated at Rs 1370-1375 and S-30 at Rs 1350-1360 in Kolhapur line.