Groundnut oil eased from Rs 510 to Rs 470 per 10 kg. amidst thin buying interest while continued new crop supplies and setback in the world prices triggered panic selling among stockists and local millers, it was said.

In Rajkot prices slipped from Rs 720/730 to Rs 640/650 per 15 kg. Traders reported higher new crop arrivals - about 1 lakh bags of groundnutseed in the Gujarat region, it was learnt. Imported palm oil finished Rs 3 lower at Rs 372 per 10 kg exclusive of tax following fresh offerings, sluggish demand and weak trend in global market. November delivery was quoted lower at Rs 365 and December delivery at Rs 362 per 10 kg. In the global market palm oil placed at $700 per tonne for nearby delivery and $680/690 for long delivery.

Castor oil remained unchanged at Rs 432/444 per 10 kgamidst thin transactions. Castorseed ready held at Rs 1972/1978 per quintal.

In the futures section castorseed December delivery looked up at Rs 1664 as against Rs 1656 and closed at Rs 1660 per quintal as lower prices attracted light short covering. But volume of trading was dull.

Bengal deshi spurts

A fresh sharp rise in the quotation of Bengal deshi goods provided main feature of trading on the cotton market.

Keen investors interest which had turned the stockists further reserved gave a fresh sharp boost to the price of Bengal deshi cotton. The spot price zoomed to Rs 1440-1510 from Rs 1390-1425 a maund on ready basis. J-34 saw-ginned ready good average at Rs 1800-1900 and cart-selected at Rs 1865-1960 were up by Rs 10 to 15. Spiralling prices have virtually halted the forward transactions. Arrivals consisted of 6000 bales of Bengal deshi and 7000 bales of J-34.

Sanker at Rs 20,000-20,500, MP Y-1 at Rs 18,000-18,100, LRA at Rs 18,600-18,700 and H-4/MECH-1 at Rs 19,300-20,300 a candy werewell-held. V-797 were quoted at Rs 15,500-15,800.

Yarn dull

A dull condition continued on the yarn market as the activity remained hamstrung by raids in Surat, acute financial stringency and none-too-happy situation of the fabrics market.

The powerlooms capacity utilisation remained low by around 40 per cent. The polyester yarn grey first quality of medium-sized units 80dn rotoset at Rs 82, micro rotoset at Rs 92-93, weft at Rs 78-80 and warp at Rs 88 a kg were static. 80/1000dn and 80/1400dn were placed at Rs 105-110 and at Rs 110-115 respectively.

In the case of 150dn, weft were placed at Rs 60, warp at Rs 68-70, single roto at Rs 64 and double roto at Rs 66.

Silver shoots up

Silver prices advanced sharply while gold ruled subdued on the bullion market here today.

Silver .999 shot up by Rs 95 to Rs 7,475 per kg. Silver .916 gained by Rs 105 to Rs 7,370 per kg. Industrial demand for silver was at a low ebb but speculators remained active buyers on the back of sharp rally in theglobal market. Delhi advices were encouraging. In the global market silver quoted higher from $4.86 to $5.02 per ounce.

Standard gold finished Rs 5 lower at Rs 4,290 per 10 gm. amidst sluggish buying interest. Gold .22 carat was steady at Rs 3,970 per 10 gm. Prices of gold biscuit (116.50 gm.) remained unchanged at Rs 50,300 per piece. Demand was dull but higher global advices arrested fresh offerings. In the overseas market gold quoted firm at $293.15 as against $291.30 per ounce earlier.

Sugar steady

A steady trend prevailed on the sugar market. Business passing was modestM-30 were placed at Rs 1482-1540 and S-30 at Rs 1458-1480 a quintal ex-godown. Ex-octroi checkpost, M-30 ruled at Rs 1465-1475 and S-30 at Rs 1445-1455.

Milling wheat hardens

Milling wheat price hardened afresh on the grains market. Elsewhere, a quietly steady trend prevailed due to dull activity.

Milling wheat price firmed up by Rs 20 a quintal at Rs 755-760 on restricted supply and higher parity in othercentres. The price in Ahmedabad and Rajkot ruled at Rs 741 and at Rs 751 respectively, averred trade sources. Other wheat and rice ruled steady. Arrival of permal rice from Punjab have commenced. The price ruled at Rs 1000-1200.

Among pulses, green peas USA and Canadian were traded at Rs 1650 and at Rs 1100 respectively. White peas Canadian ready were quoted at Rs 1040-1050 and October/November shipments at Rs 1025-1030. Tur Myanmar 1998 and 1997 were transacted at Rs 2500 and at Rs 2400 respectively. Kenyan tur were on offer at Rs 2375-2400. Urad Myanmar were traded at Rs 1900. Australian gram ruled at Rs 1550-1575. Kabuli gram A-2 were placed at Rs 3600-3700, B-2 at Rs 3500, C-2 at Rs 2700-2750 and natural at Rs 3000-3100. Rajma chitra deshi were quoted at Rs 2500-2600 and red imported at Rs 2350-2400.

Tenders for the month were over, stated trade sources, Delivery orders of S-30 were traded at Rs 1400-1415 in Kolhapur line.