Groundnut oil reacted from Rs 485 to Rs 482 per 10 kg amidst demand resistance while stockists were booking profit on expectation that Gujarat government may lift ban on inter-state sale of groundnut oil. In Rajkot groundnut oil opened firm at Rs 680/685 per 15 kg.and closed the day lower at Rs 670/675.

Imported palm oil edged up by a rupee to Rs 363 per 10 kg on higher global interest. Demand was sluggish. In the overseas market palm oil placed at $705 per tonne. Forward deliveries were quoted at $685/692.50 per tonne.

Castor oil finished Rs 5 higher at Rs 430/442 per 10 kg as fresh overseas enquiries from Europe and China triggered covering by shippers. Castorseed ready shot up by Rs 24 to Rs 1,962/1,968 per quintal in sympathy.

In the futures section castorseed December deliveryopened firm at Rs 1,663 to Rs 1,674 but towards close it was dropped to Rs 1,663 per quintal as uptrend attracted profit-taking by bull operators, floor sources said.

In Ahmedabad December delivery closed Rs 4 higher at Rs 1,752 per quintal. In Rajkot it was quoted at Rs 1,683/1,684 per quintal. In Gujarat region supplies of castorseed picked up to 4,000/5,000 bags, it was learnt.

Castorseed ready delivery placed at Rs 360 per 20 kg. and castor oil at Rs 410 per 10 kg. In Hyderabad castorseed climbed to Rs 1600 per quintal.

Silver gains

Gold prices ruled steady while silver was modestly placed on the bullion market here today.

Standard gold remained unchanged at Rs 4,270 per 10 gm. Gold .22 carat closed steady at Rs 3,950 per 10 gm. in same fashion. Prices of gold biscuit (116.50 gm.) held at Rs 50,100 per piece. Demand was dull but scattered inflow and narrow movement in the world market kept offerings limited. In the global market gold was quiet at $292.25/292.50 per ounce.

Silver .999opened on a weak note but later on climbed to Rs 7,515 with a overnight gain of Rs 5 per kg. Silver .916 rose Rs 15 at Rs 7,410 per kg in sympathy.

Fresh industrial demand and modest recovery in the world market influenced local silver to trim early losses towards close. Continued supplies of Chinese silver kept the trend weak in the early trading but later on the trend was reversed, according to a broker. In the global market the white metal quoted higher from $4.98 to $5.03 per ounce.

Sugar easy

An easy trend prevailed on the sugar market following limited demand and weak ex-mill advices.

Losing Rs 5 a quintal M-30 were placed at Rs 1455-1465 and S-30 at Rs 1430-1445 ex-octroi checkpost. Ex-godown, the price ruled at Rs 1458-1520 and at Rs 1445-1465 respectively. However, with the rise in the transport charges the price was likely to look up again, averred trade sources.

In tenders, sluggish activity pushed down the price by Rs 10. M-30 were indicated at Rs 1405-1415 and S-30 at Rs1380-1390 in Kolhapur line.

Grains weak

A dull-to-weak condition prevailed in pulses on the grains market. Wheat and rice ruled steady despite limited demand due to higher producing centre advices.

Green peas USA at Rs 1600-1650 and Canadian at Rs 1125 a quintal were static. In the case of white peas Canadian, ready were unchanged at Rs 1000 but incoming goods price dipped by Rs 25 at Rs 925-950. Tur Myanmar 1997 were down by Rs 100 at Rs 2100. 98 at Rs 2300, Kenyan at Rs 2225-2230 and Tanzanian at Rs 2350-2375 were steady. Urad Myanmar shed Rs 50 at Rs 1700.

Moong Myanmar ruled at Rs 1900, deshi moong Mogalai at Rs 1700-1800, Chamki at Rs 1900-2000 and Chinai at Rs 2100 ex-producing centres. Australian gram were on offer at Rs 1550. Kabuli gram A-2 were placed at Rs 3500-3600, B-2 at Rs 3200-3300, C-2 at Rs 2600 and natural at Rs 2700-2750. Rajma chitra deshi ruled at Rs 2500-2600.

Wheat north Gujarat Tukadi were quoted at Rs 825-850 and 496 at Rs 850-900. Rice Gujarat-17 were placed at Rs1700-1750.

Yarn dips

An easy condition was in evidence on the yarn market due to poor demand and relentless pressure of monetary crunch.

Power crunch, tight liquidity and sluggish conditions in fabrics have further reduced the capacity utilisation in Bhiwandi powerlooms from a little over 60 per cent to 50 per cent. This has affected the offtake of yarn.

In polyester yarn, only 80/1000dn and 80/1400dn ruled firm due to very restricted supply, coupled with better buying inquiries. The former firmed up to Rs 114-115 and the latter to Rs 124-125 a kg.

However, 80dn rotoset lost Rs 4 at Rs 80, micro rotoset at Rs 95 shed Rs 3. Weft at Rs 75-76 and warp at Rs 84-85 were also down by Rs 3. In the case of 150dn also price dipped by Rs 3. Weft and warp were placed at Rs 60-61 and at Rs 70-71 respectively.

Cotton steady

A steady trend prevailed on the cotton market. Mill demand was restricted.

Arrivals in Punjab zone were around 16,000 bales. Ready Bengal deshi roller-ginned ruled at Rs1600-1625 and saw-ginned at Rs 1665-1705 a maund spot. J-34 saw-ginned good average were quoted at Rs 1800-1915 and cart selected at Rs 1915-1960.