Groundnut oil shot up from Rs 470 to Rs 485 per 10 kg on tight supplies and steady demand. Continued ban on the outstation sale by Gujarat government has kept arrivals restricted in the city market. In Rajkot prices climbed to Rs 655/660 per 15 kg.

Imported palm oil held at Rs 362 per 10 kg exclusive of tax amidst limited trading. In the global market palm oil placed static at $705 per tonne for nearby delivery and at $682.50/697.50 per tonne for long deliveries. Castor oil rose by Rs 5 to Rs 425/437 per 10 kg as fresh overseas enquiries prompted covering by shippers. Castorseed ready placed Rs 24 higher at Rs 1,938/1,944 per quintal.

In the futures section castorseed December delivery quoted at Rs 1,666 as against Rs 1,640 before closing the day at Rs 1,663 per quintal on fresh bull buying.

In AhmedabadDecember delivery ruled firm at Rs 1,756 and in Rajkot it was at Rs 1,699 per quintal respectively. In Gujarat, castorseed ready delivery quoted at Rs 345/350 per 20 kg. Castor oil rose to Rs 405 per 10 kg. Hyderabad advices were encouraging.

Silver suffers

Silver prices suffered a fresh loss while gold ruled steady on the bullion market here today. Silver .999 closed Rs 25 lower at Rs 7,510 per kg. Silver .916 was down by Rs 30 at Rs 7,395 per kg. Industrial demand was dull. Besides continued overseas arrivals and weak global advices put fresh pressure on the prices, dealers said. Delhi was weak and in the global market the white metal slid to $4.98/4.99 per ounce.

Standard gold maintained at Rs 4,270 per 10 gm. so was gold .22 carat at Rs 3,950 per 10 gm. Prices of gold biscuit (116.50 gm.) remained unchanged at Rs 50,100 per piece.

Demand was dull but scattered supplies kept prices quiet. In the global market gold slid to $292.50/292.75 per ounce. Subdued trend in dollar prices againstrupee also kept bullion prices weak, it was learnt.

Sugar marginally up

A steady-to-slightly better trend prevailed on the sugar market.M-30 were placed at Rs 1460-1470 and S-30 at Rs 1335-1350 a quintal ex-octroi checkpost. Ex-godown, the price ruled at Rs 1460-1520 and S-30 at Rs 1450-1470. Demand was modest.

In tenders, however, the price eased by Rs 5 on slack demand. M-30 were indicated at Rs 1415-1420 and S-30 at Rs 1390-1400 in Kolhapur line.

Cotton improves

A steady-to-better trend prevailed on the cotton market. Mill demand was limited but reduced arrivals continued to influence the sentiment. There were reports of rains in Maharashtra cotton growing belt.

Arrivals in Punjab zone comprised of 6000 bales of Bengal deshi and 10,000 bales of J-34. Prices held almost steady. Ready Bengal deshi roller-ginned Punjab ruled at Rs 1600-1610, Haryana at Rs 1605-1610 and Rajasthan at Rs 1610-1625 a maund spot. Respective rates for saw-ginned deshi were 1665-1675, Rs 1700-1705 and Rs1675-1700. J-34 saw-ginned good average Punjab ruled at Rs 1860-1915, Haryana at Rs 1860-1880 and Rajasthan at Rs 1800-1840.

Sanker at Rs 19,200-20,000 a candy ruled steady. MP Y-1 at Rs 18,200-18,300 and LRA at Rs 18,500-18,700 were up by Rs 200. H-4 at Rs 18,800-19,200 and MECH-1 at Rs 19,400-19,700 were steady. V-797 gaines Rs 100 at Rs 16,000-16,400.

Meanwhile, around 7 lakh bales have been marketed so far in the current season, averred trade sources. Of this, Punjab zone accounted for about 2 lakh bales.

Grains steady

A steady trend prevailed in wheat and rice on the grains market. Activity was restricted.

Wheat milling were placed at Rs 780-781 a quintal. Saurashtra Lokvan wheat were on offer at Rs 875-925 and SW at Rs 900-1000. North Gujarat Tukadi were quoted at Rs 825-850 and 496 at Rs 850-900. MP 147 and Sarbati were on offer at Rs 850-925 and at Rs 950-1400 respectively.

Rice Gujarat-17 were in demand at Rs 1700-1750. Permal Punjab found sellers at Rs 925-1200 while superiorPermal fetched Rs 1250-1350.

Among pulses, green peas USA ruled at Rs 1600-1650 and Canadian at Rs 1125. Rajma chitra deshi were placed at Rs 2500-2600. Australian gram were placed at Rs 1550.

Yarn quiet

A quietly steady trend prevailed on the yarn market.

Viscose filament yarn bright cones first quality Century Rayon 150dn at Rs 224, 120dn at Rs 247, 100dn at Rs 260 and 75dn at Rs 269 a kg were static.Nylons Shreelon 15/1/0dn ruled at Rs 240 and 20/1/0dn at Rs 225. Gujnil 30/1/0dn and 111/24/0dn were placed at Rs 290 and at Rs 157 respectively.