Neem and palmfatty acid tumbled down by Rs 50-100 a quintal on selling pressure from Karnataka and Kandla.

Among oilseeeds, sunflower seed plummeted from Rs 990 to Rs 900 a quintal.Mumbai: Groundnut oil prices eased sharply to new low level on the oil,oilseeds market here today. Castorseed and its oil however remained firm in the ready delivery and a modest setback was noticed in the forward market.Groundnut oil finished Rs 3 lower at Rs 365 per 10 kg amidst steady summer crop arrivals and slow consumer demand. In Rajkot prices ruled weak at Rs 577/578 per 15 kg.

Imported palm oil edged down a ruppe at Rs 236 per 10 kg owing to thin buying interest but later on in the kerb deal it was quoted firm at Rs 241/242 per 10 kg following news of recovery in the international market. Palm oil in the overseas market commenced lower at $392.50 per tonne but recovered thereafter to close at $400 for nearby delivery while long deliveries were placed at $397.50 per tonne.

Castor oil moved up by Rs 3 to Rs 388/400 per 10 kg as fresh overseas enquiries and eased supplies prompted covering by shippers. Expected delay in the arrivals of castorseed from South Africa and Pakistan also aided the recovery, dealers said. Castorseed ready shot up by Rs 15 to Rs 1784/1790 per quintal.

In the futures section castorseed September delivery reacted by Rs 3 to Rs 1,816 per quintal on light bull unloading. Maturing June delivery however remained absent from trading. In the international castor oil future market, August delivery rose from Rs 393.75 to Rs 401 and October delivery from Rs 400.50 to Rs 408 per 10 kg. In Ahmedabad castorseed September delivery eased by Rs 4 to Rs 1,816 per quintal. In Gujarat castorseed spot delivery placed higher at Rs 350/351 per 20 kg. and castor oil at Rs 375 per 10 kg.

Castorseed arrivals at Gujarat dropped to 30000/35000 bags.

Kabligram edges up

In mixed market conditions, wheat and its products prices, at the local grains and pulses market showed a declining tendency on Tuesday.

Daily arrival of wheat from Rajasthan and the neighbouring states, moved up to about 12,000 bags coupled with slack demand in roller flour mill atta and suji from Bihar and West Bengal buyers, wheat dara slipped from Rs 635-640 to Rs 630-637 a quintal due to sluggish demand from local flour millers. Roller flour mill atta and suji dipped by Rs 5-15 at Rs 620 and Rs 660 per bag, respectively. Maize declined by Rs 10 at Rs 590-630 a quintal on increased offerings from Bihar.

Among pulses, urad Rangoon marked down by Rs 10 a quintal due to lack of buying by the stockists while on firm Maharashtra, Rajasthan and MP advices, arhar and its dal, recorded a sharp rise of Rs 25-50 at Rs 1750-2175 and Rs 2625-3050 a quintal, respectively. Small masoor and kabligram edged up by Rs 10 a quintal due to restricted supply.

Bullion divergent

Despite increased imported inflow, silver recorded a gain of Rs 10 while gold, at the local bullion market, ruled easy on Tuesday.

New York silver future ruled easy at 497 cents an ounce. However, on good demand in silver from upcountry buyers, spot silver .999 fineness edged up from Rs 7475 to Rs 7485 a kg and silver weekly delivery, on speculative buying, firmed up by Rs 10 at Rs 7495 a kg. Silver coins remained unchanged.Gold, on the overseas market, dipped to about $264 an ounce, consequently, gold biscuit and standard mint gold eased by Rs 10 at Rs 4110 and Rs 4120 per 10 gram, respectively while gold sovereign held steady at Rs 3675-3700 per 8 gram.

Mumbai: Gold lost gained ground on the bullion market here today. Silver however moved in a narrow range and finished on a mixed note.

Standard gold placed Rs 20 lower at Rs 4,150 per 10 gm. Gold .22 carat was down by same margin at Rs 3,840 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 150 to Rs 48,700 per piece. Physical demand for gold was dull while fresh losses in the global prices coupled with continued supplies triggered offerings by stockists and local bankers. Spurt in dollar value against rupee has failed to cheer up market sentiment for gold. In the global market gold declined from $266.55 to $264.00 per ounce.

Meanwhile silver .999 climbed by Rs 10 to Rs 7,700 per kg. Silver .916 was closed by Rs 5 lower at Rs 7,560 per kg. Industrial demand for silver was at a low ebb but shortage of nearby supplies kept offerings restricted and volume of trading was sluggish. In the international market silver prices slid by one cent to $4.98 per ounce.

Press wax rises

Slack and press wax rose steeply by Rs 500-1000 to Rs 20,000 and Rs 28,000 per tonne in view of constant rise in demand from refined wax and canvas factories. Paraffin wax ruled steady on the back of slack import.On the other hand, cheaper arrivals from Mumbai pushed down sodium hydro sulphite Kalali by Re one at Rs 59 per kg. Rest of the chemicals traded on dull note.