Groundnut oil finished Rs 8 lower at Rs 402 per 10 kg. Sluggish demand and steady arrivals from southern India were attributed to the setback. Besides lifting of inter-state ban of edible oil by Gujarat government also weakened the market sentiment, dealers said. In Rajkot prices quoted Rs 5 higher at Rs 635 per 15 kg.

Imported palm oil reacted by Rs 2 to Rs 346 per 10 kg exclusive of tax amidst fresh arrivals at Mumbai port, thin buying interest and subdued trend in the global market. In the overseas market palm oil fell to $682.50 per tonne for nearby delivery and $675/677.50 for long delivery, it was learnt.

Castor oil crashed by Rs 15 at Rs 370/384 per 10 kg in absence of overseas demand. Castorseed ready fell below Rs 1700-mark at Rs 1,674/1,680 per quintal owing to continued new croparrivals. Daily inflow of castorseed in the Gujarat region has placed at 17000/18000 bags.

In the future section, castorseed March delivery ended Rs 25 lower at Rs 1475 per quintal on fresh bull liquidation following weak upcountry advices. Today there was no trading reported in the maturing December delivery.

In Ahmedabad February delivery fell to Rs 1448 and in Rajkot it was placed at Rs 1460.50 per quintal. In Gujarat castorseed spot delivery fell to Rs 315 per 20 kg and castor oil was available at Rs 360 per 10 kg.

Sugar improves

Sugar market presented a better stance as the sentiment was buoyed by the news of government decision to hike the import duty.

Price looked up by Rs 5 to 7 a quintal. M-30 were up at Rs 1451-1509 and S-30 at Rs 1425-1460 a quintal ex-godown. Ex-octroi checkpost the price ruled at Rs 1440-1455 and at Rs 1415-1425 respectively.

Among imported sugar Dubai were placed at Rs 1425 inclusive of sales tax.In tenders also the price was eded up by Rs 5 as M-30 weeindicated at Rs 1395-1405 and S-30 at Rs 1375-1385 in Kolhapur line.

Gold recovers

Gold recovered modestly from the reduced level while silver was weak on the bullion market here today.

Standard gold edged up by Rs 5 to Rs 4,315 per 10 gm.s Gold .22 carat was up by same margin at Rs 3,990 per 10 gm. Prices of gold biscuit (116.50 gm.) rose by Rs 100 at Rs 50,700 per piece. Demand for ongoing wedding season improved considerably at the lower level while tight supplies and firm overseas advices arrested fresh offerings by stockists and bankers. In the global market, gold looked up from $293 to $294.50 per ounce.

Silver .999 closed Rs 10 lower at Rs 7,400 per kg. Silver .916 was down by Rs 15 to Rs 7,295 per kg in sympathy. Absence of fresh industrial buying coupled with steady overseas and weak Delhi advices put pressure on the market, according to dealers. In the overseas market the white metal was quiet at $4.88 per ounce.

Grains steady

A quietly steady condition prevailed on thegrains market following persistent sluggish activity.

Wheat milling were placed at Rs 751-755 a quintal. Wheat north Gujarat tukadi were on offer at Rs 790-825 and 496 at Rs 800-850. Saurashtra Lokvan wheat found sellers at Rs 790-825 while SW fetched Rs 800-975. MP 147 and Sarbati were traded at Rs 800-850 and at Rs 900-1300 respectively.

Rice SLO were mentioned at Rs 1100-1200. Permal Punjab ruled at Rs 850-1050.

Among pulses, green peas USA were quoted at Rs 1625 and Canadian at Rs 991-1000. White peas Canadian ready and December/January shipments were placed at Rs 940-950 and at Rs 925 respectively. Tur Myanmar 98 ruled at Rs 2000 and 97 at Rs 1900. Kenyan tur were traded at Rs 2000 and Tanzanian at Rs 2100.

Yarn listless

A listless condition continued on the yarn market following low volume of business.

Viscose filament yarn bright cones first quality Century Rayon 150dn ruled at Rs 217, 120dn at Rs 239, 100dn at Rs 248 and 75dn at Rs 264 a kg. 120dn dull cones were on offer at Rs247.

Nylon yarn Gujnil 20/1/0dn at Rs 220, 30/1/0dn at Rs 290 and 111/24/0dn at Rs 157 were unchanged.

Punjab cotton ends higher

A slightly better trend prevailed in Punjab cotton following reduced inflow. Elsewhere, a quiet tendency continued.

The arrivals in Punjab zone dropped down from 12,500 to 10,000 bales, consisting of 3000 Bengal deshi and 7000 J-34. This has pushed up the price of J-34 by Rs 10 a maund. Saw-ginned good average Punjab ruled at Rs 1700-1780, Haryana at Rs 1710-1745 and Rajasthan at Rs 1695-1725 spot. Cart selected Punjab were quoted at Rs 1800-1920 while Haryana and Rajasthan were placed at Rs 1780-1800 and at Rs 1730-1770 respectively. In the case of Bengal deshi Rajasthan price improved by Rs 10 at Rs 1525-1540 for roller-ginned. Punjab at Rs 1500-1510 and Haryana at Rs 1500-1520 were steady.

Sanker continued to be placed in the range of Rs 17,500-19,700 a candy. MP cottons were static. V-797 shed Rs 100 at Rs 16,000-16,200 on increased offerings.