Groundnut oil fell by Rs 4 to Rs 409 per 10 kg on demand resistance ahead of fag end of the month while higher prices attracted light profit-taking. In Rajkot it was steady at Rs 605/610 per 15 kg.

Imported palm oil maintained at Rs 312 per 10 kg amidst shortage of ready stock but demand was dull. Undercurrent of the market was weak following fear that exporting countries may cut export taxes on palm oil, according to market sources.

In the global market palm oil commenced lower at $495 before settling at $500 per tonne for nearby delivery and long deliveries were placed at $477.50/485 per tonne.

Castor oil edged up by Rs 2 to Rs 321/335 per 10 kg following renewed covering by shippers. Castorseed shot up by Rs 10 to Rs 1439/1445 per quintal in sympathy.

In the futures section castorseed June delivery reactedfrom Rs 1486 to Rs 1483 per quintal on light bull unloading. Maturing March delivey remained absent from trading today.

In Ahmedabad April delivery was ruled quiet at Rs 1435 and June delivery placed at Rs 1475.50 per quintal. In Gujarat castorseed spot delivery quoted higher at Rs 282 per 20 kg. while castor oil at Rs 308 per 10 kg.

Bullion suffers

Gold and silver prices suffered losses at the improved level on the bullion market here today. Silver .999 eased by Rs 55 to Rs 7,665 per kg. In the ready section silver .916 was down by Rs 50 to Rs 7,540 per kg. Industrial demand for silver was at a low ebb while continued inflow - 800/1000 kg and weak Delhi and overseas advices triggered selling by stockists and local bankers. In the global market the white metal fell from $5.14 to $5.10 per ounce.

Standard gold finished Rs 10 lower at Rs 4,285 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 100 to Rs 50,500 per piece. Seasonal buying was lower than expected while weak global avicesput pressure on the prices. In the overseas market gold moved down from $286.30 to $284.40 per ounce.

Sugar dips

An easy condition prevailed on the sugar market following slack demand.

Indigenous sugar price dipped by Rs 5 a quintal. M-30 were placed at Rs 1480-1540 and S-30 at Rs 1451-1480 ex-godown. Ex-octroi checkpost, M-30 found sellers at Rs 1460-1470 and S-30 at Rs 1440-1450.

In tenders also with a similar fall, M-30 were indicated at Rs 1420-1425 and S-30 at Rs 1400-1410 in Kolhapur line.

Brazilian white at Rs 1360 and biscuit colour at Rs 1250 plus sales tax were unchanged.

Grains listless

A dull condition continued on the grains market following listless activity.

Arrivals in wheat were on the high side at around 200 lorryloads. Wheat milling at Rs 621-625, new Saurashtra Lokvan at Rs 685-800, Tukadi at Rs 700-825 and SW at Rs 900-1100 a quintal were static. North Gyujarat wheat found sellers at Rs 650-750. MP 147 and Sarbati were traded at Rs 775-925 and Sarbati at Rs900-1300.

Rice were maintained on restricted supply. Gujarat-17 were traded in the range of Rs 1750-1900. SLO ruled at Rs 1100-1200. Perimal Punjab and superior were transacted at Rs 950-1100 and at Rs 1200-1400 respectively. AP cultured kolam were in demand at Rs 1400-1600.

Among pulses, moong Myanmar were placed at Rs 1600-1800 and Chinese at Rs 1800-1850. Australian gram were mentioned at Rs 1025-1050. Kabuli gram A-2 ruled at Rs 2800-3100 and B-2 at Rs 2500-2550. C-2 and natural kabuli found sellers at Rs 1700-1900 and at Rs 2200-2250 respectively.

Cotton weak

A dull-to-weak trend was in evidence on the cotton market following poor mill demand.

In Punjab zone, Rajasthan market registered an allround fall of Rs 10 to 15 a maund while other centres were barely steady. Bengal deshi saw-ginned good average Punjab were placed at Rs 1360-1425 and Haryana at Rs 1350-1355 spot. Rajasthan fell to Rs 1400-1425.

J-34 saw-ginned good average Punjab and Haryana were quoted at Rs 1650-1750 and at Rs1620-1680 respectively while Rajasthan receded to Rs 1660-1700. Cart selected were traded at Rs 1820-1935, at Rs 1730-1740 and at Rs 1710-1725 respectively.

J-34 roller-ginned Punjab were on offer at Rs 1550-1650, Haryana at Rs 1575-1585 and Rajasthan at Rs 1590-1615. Arrivals comprised of 500 bales of Bengal deshi and 4000 bales of J-34.

V-797 at Rs 13,600-13,700, Morbi wagad at Rs 13,200 and Kalan-ginned at Rs 12,700-12,800 a candy were down by Rs 200 on increased pressure of arrivals. Sanker were steady in the range of Rs 17,500-20,000.

In futures, April remained untraded. June ruled at Rs 4960 and September at Rs 4995 a quintal.

Yarn subdued

A subdued condition prevailed on the yarn market following slack demand.

Power crunch on top of year end considerations aggrevated the bearish conditions in polyester yarn. Price was placed lower by a rupee per kg in popular deniers. Grey first quality of medium-sized units 80dn rotoset were on offer at Rs 82-83, micro roto at Rs 89-90, weft at Rs77-79 and warp at Rs 85-87. 150dn weft were placed at Rs 63-64.