Following emergence of speculative interest again in Bengal deshi, coupled with sympathetic support of bullish conditions in Surendranagar V-797 unofficial contract, the price of Bengal deshi shot up. Haryana roller-ginned quotation spurted from Rs 1500-1520 to Rs 1575-1580 a maund spot. Punjab at Rs 1525-1550 and Rajasthan at Rs 1550-1570 netted gains of Rs 25 to 30. V-797 contract at Surendranagar shot up by over Rs 12 per 20 kgs and touched Rs 393.50.

J-34 price moved up by Rs 15 to 20 in sympathy. Good average Punjab were placed at Rs 1705-1800, Haryana at Rs 1730-1760 and Rajasthan at Rs 1710-1740. Respective rates for cart selected material were Rs 1810-1935, Rs 1790-1810 and Rs 1760-1780. Arrivals consisted of 2500 bales of Bengal deshi and 8000 bales of J-34.

Other cottons ruled unchanged. Sanker were placed in the range of Rs 17,500-19,700 a candy.

Grains dull

A dull conditioncontinued on the grains market following very low volume of business.

Wheat milling were on offer at Rs 751-755 a quintal. Wheat Saurashtra lokvan were placed at Rs 790-825 and SW at Rs 800-975. North Gujarat Tukadi and 496 were traded at Rs 790-825 and at Rs 800-850 respectively. MP 147 wheat were on offer at Rs 800-850 while Sarbati were transacted in the range of Rs 900-1300.

Rice Gujarat-17 new and old were quoted at Rs 1650-1700 and at Rs 1800-1850 respectively. Permal Punjab were placed at Rs 850-1050 while superior ruled at Rs 1200-1300.

Among pulses, Kabuli gram A-2 were placed at Rs 3300-3400, B-2 at Rs 2700-2800, C-2 at Rs 2300-2400 and natural at Rs 2500-2600. Australian gram ruled at Rs 1600. Moong Myanmar were in demand at Rs 1850-1900 while Chinese were traded at Rs 1950-2000.

Sugar bullish

Bullish trend gained fresh ground on the sugar market as the demand which was spurred by the Prime Minister's statement to hike the import duty continued to be active.

The price ofindigenous sugar netted further gains of Rs 8 to 10 a quintal. M-30 were up at Rs 1460-1515 and S-30 at Rs 1440-1455 ex-godown. Ex-octroi checkpost, the quotations ruled at Rs 1445-1460 and at Rs 1425-1440 respectively. No deals were reported in imported sugar.

In tenders, M-30 ruled steady at Rs 1395-1405 but S-30 was indicated higher by Rs 5 at Rs 1380-1390 in Kolhapur line.

Yarn quiet

A quiet condition continued on the yarn market following sluggish conditions in the fabrics market. Sentiment also remained affected by continued searches by the revenue departments of dyeing units.

Polyester yarn grey first quality of medium sized units 150dn weft and warp ruled at Rs 63-64 and at Rs 72-73 a kg respectively. Single roto were quoted at Rs 67-68 and double roto at Rs 70-71.

Nylon yarn Gujnil 20/1/0dn and 30/1/0dn continued to be placed at Rs 220 and at Rs 290 respectively. Viscose filament yarn bright cones first quality Century Rayon 150dn were placed at Rs 217 and 120dn at Rs 239. 120dn dullcones were on offer at Rs 247.

Silver crashes

The white metal depressed sharply on the bullion market here today. Gold on the other hand eased modestly in sympathy.

Silver .999 dropped by Rs 240 to Rs 7,160 per kg. In the ready section silver .916 was down by Rs 255 at Rs 7,040 per kg in sympathy. Industrial buying was sluggish while continued overseas supplies coupled with sharp set back in the international market triggered panic selling among stockists and local bankers. Delhi was weak and in the global market the silver fell by 20 cents to $4.68 per ounce. Meanwhile traders reported arrivals of 1500/2000 kg of imported silver in the city market today and the volume of trading was hardly 1000/1200 kgs, it was said.

Meanwhile standard gold reacted by Rs 10 to Rs 4,305 per 10 gm. Gold .22 carat was down by same margin at Rs 3,980 per 10 gm. Prices of gold biscuit (116.50 gm.) closed Rs 200 lower at Rs 50,500 per piece. In the overseas market the yellow metal slid to $293.40 per ounce. Setbackin dollar value against rupee and sharp losses in contraband silver prices has kept gold weak at the close of the session.

G'nut oil recovers

Groundnut oil recovered from the reduced level on the oil,oilseeds market here today. Castorseed and its oil ruled steady in ready delivery and prices dropped further in the forward section.

Groundnut oil moved up from Rs 402 to Rs 410 per 10 kg on fresh consumer demand coupled with eased supplies from southern centres. In Rajkot prices looked higher at Rs 640 as against Rs 625 per 15 kg earlier.

Imported palm oil placed a rupee lower at Rs 345 per 10 kg exclusive of tax on continued inflow at Mumbai port followed by weak trend in the global market.

Castor oil remained unchanged at the reduced level of Rs 370/384 per 10 kg on fresh overseas enquiries. Castorseed ready held at Rs 1674/1680 per quintal amidst nominal trading. In Rotterdum castor oil quoted lower at $1100 per tonne for nearby delivery and $975 for forward delivery, it was learnt.

In thefutures section castorseed March delivery closed lower from Rs 1475 to Rs 1458 per quintal on renewed unloading. Maturing December delivery remained absent from trading today.

In Ahmedabad February delivery moved up from Rs 1448 to Rs 1458 before settling at Rs 1451 per quintal. In the Gujarat region castorseed ready maintained at Rs 310/315 per 20 kg and castor oil at Rs 350/355 per 10 kg.