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National News Service
NEW DELHI, Oct 13: In mixed market conditions, prices on the local grains and pulses market moved in a narrow range on Tuesday. In the wake of poor crop prospects coupled with hoarding tendency, urad edged up by Rs 15 at Rs 1625 and dal arhar flared up by Rs 100 at Rs 3300-3800 a quintal. It carries a high price tag among pulses. On profit-taking selling, rajmash chitra slumped by Rs 50 a quintal and gram dal prices remained subdued due to weak demand from Bihar and West Bengal.
Arrival of wheat from neighbouring states was reported about 15,000 bags, but prices held steady due to poor inventories.
Arrival of rice from Haryana and UP was reported about 15-16,000 bags and exporters were procuring rice permal Kandla delivery, from producing areas at Rs 960-1030 a quintal.
Bajra and barley looked up by Rs 5-10 a quintal due to restricted supply.
Sunflower refined oil firm
Following delay in arrival, groundnut, palmolein and sunflower refined oils were reported out of stock in tins. Kachi ghanimustard oil of Agra was quoted at Rs 925 a tin while in August, it was priced at Rs 785-820 a tin.
Sunflower refined oil in one litre pack was priced at Rs 64 and palmolein at Rs 50 a litre. Sunflower refined oil ruled firm at Rs 710-730 a tin. Palmolein in Mumbai was quoted at Rs 3860 and soyabean oil at Rs 3750 a quintal.
Mumbai: Castorseed futures price rallied further on the oilseeds market on Tuesday while palm oil fell and linseed oil recovered.
In the futures section, castorseed December contract started with overnight strength at Rs 1649 and on sustained buying by shippers, shot up to close at Rs 1660, showing a smart rise of Rs 30 over the last close of Rs 1630.
In the non-edible section, linseed oil found heavy paint industries demand and recovered by Rs 5 to end at Rs 485 from Rs 480. However, linseed bold at Rs 1700, castor oil commercial at Rs 425 and castorseed madras at Rs 1944, held steady on scattered dealings.
In the edible section, groundnut oil at Rs 625 showed no changefrom the previous close and groundnut bold remained untraded. Imported palm oil slipped by Rs 2 to end at Rs 385 from Rs 387 on fresh arrivals.
Sugar rises
On allocation of addition free-sale sugar quota of 10 lakh tonnes sugar for Maharashtra, mill delivery sugar prices firmed up by Rs 10-15 at Rs 1350-1495 and spot sugar prices moved upto Rs 1530-1620 from Rs 1515-1600 a quintal.
According to traders, uptrend in sugar could be attributed to less free-sale sugar quota for October. Deals for about 20-25,000 bags sugar were settled by local as well as upcountry parties on Tuesday.
Mill delivery sugar Mawana was traded at Rs 1490, Darualla at Rs 1442, Modi at Rs 1440, Titabi at Rs 1446 and Kichha at Rs 1365 a quintal.
Poppyseed crashes
Following apprehension of loss to crops due to untimely rains, cardamom brown, red chillies, turmeric and zeera recorded a sharp rise of Rs 100-300 a quintal while poppyseed crashed by Rs 500-1000 at Rs 7000-16,000 a quintal on reports of issue of importlicence for about 20,000 tonnes poppyseeds. Cardamom small and dry pomegranateseed revealed a firm tendency.
Among dry fruits, on holding of stock by the stockists, copra Tiptur shot up by Rs 100 at Rs 6800 a quintal.
Silver coins shoot up
Silver, at the local bullion market recorded gains and gold also held steady on Tuesday.
New York silver future moved upto 488 cents from 482 cents an ounce coupled with strong local as well as upcountry demand, spot silver .999 fineness climbed upto Rs 7360 from Rs 7310 a kg. and silver weekly delivery edged up by Rs 10 at Rs 7450 a kg. as the operators kept their holdings.
Silver coins also shot up by Rs 100 at Rs 11,000-11,200 per 100 pieces. Gold in London held steady at $ 296.70 an ounce, but due to weak festive demand from jewellers, gold biscuit and standard mint gold held steady at their previous close of Rs 4355 and Rs 4365 per 10 gram, respectively. Gold sovereign remained unchanged at Rs 3650-3700 per 8 gram.
Mumbai: Silver pricesreacted moderately on the bullion market following fresh arrivals of raw silver even as gold held steady.
Ready silver .999 fineness and tenderable silver eased by Rs 15 each to close at Rs 7425 and Rs 7430 from the previous close of Rs 7445 and Rs 7450 respectively. Raw silver .916 fineness declined to Rs 7290 from Monday's close of Rs 7310.
Standard gold, 22-carat gold and ten-tola gold bar .999 purity remained unchanged from the last close of Rs 4350, Rs 4025 and Rs 51,100 respectively on scattered buying.
Soda ash lower
Chemicals remained quiet. The inflow of various chemicals had increased while the sales remained dull. Soda ash marked lower by Rs 10 per bag and safolite, sodium hydro sulphite were unchanged and subdued in the absence of demand from gur-shakkar khandsari makers, despite the on-going season.
Copper wire bar declines
Zinc slab and copper products registered further lower prices owing to poor response from consumers units. In copper products wire bar, rod and itswire moved lower further by Re. one at Rs 112, Rs 115.50 and Rs 119.50 per kg. following continued pressure of sales arrivals while the industrial consumption remained slack.
Copper utensils, mixed, scrap and accessories were unchanged and the sentiment remained subdued. Zinc slab as well eased further by 25 paise per kg. On the other hand, tin ingot edged up by Re. one per kg. mainly because of mutual trading.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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