Groundnut oil declined from Rs 370 to Rs 365 per 10 kg on improved new crop arrivals. In Rajkot groundnut oil ruled quiet at Rs 590/595 per 15 kg.Imported palm oil recovered from Rs 205 to Rs 206 per 10 kg on higher overseas advices. In the global market palm oil recovered by $5 at $325 for nearby delivery and at $327.50/330 for the long delivery, it was learnt.

Castor oil shot up by Rs 9 at Rs 382/394 per 10 kg. Castorseed ready were up by Rs 45 at Rs 1754/1760 per quintal in sympathy. There was no trading in castorseed March delivery here. In Ahmedabad castorseed April delivery initially jumped to Rs 1,733 but later on closed lower at Rs 1707 per quintal. June delivery went up to Rs 1838 but finally settled at Rs 1790 on bull liquidation.

Meanwhile Forward Market Commission has granted permission to start trading in June delivery and the new contract is likely to begin early in next week.

Bullion ends lower
Gold and silver prices ruled weak on the bullion market here today.Standard gold closed Rs 10 lower at Rs.4,580 per 10 gm. gold .22 carat was down by same margin at Rs 4,235 per kg. Prices of gold biscuit (116.50 gm.) fell by Rs 100 at Rs 53,500 per piece after loosing Rs 600 on Thursday.

Seasonal buyers were stayed away in the falling market as continued setback in the global prices coupled with slide in dollar value against rupee prompted renewed offerings here in the local market. In the global market the yellow metal placed lower from $289 to $288.60 per ounce.

Silver .999 softened by Rs 15 at Rs 8,020 per kg. Silver .916 was down by Rs 10 at Rs 7,890 per kg in sympathy. Industrial and seasonal buying remained at a low ebb and weak Delhi and overseas advices put fresh pressure on the silver prices, dealers said. Traders reported arrivals of 175 to 200 kg. of silver during the day. Arrivals of imported silver however remained restricted. In the global market the white metal reacted from $5.05 to $5.03 per ounce.

Reliance hikes yarn price
Following increase in the excise duty the Reliance Industry (RIL) has jacked up the prices. The market price ruled steady.

RIL has increased the price of POY to Rs 87 for 126dn and to Rs 78 for 235dn a kg inclusive of excise. The prices of texturised yarn have been raised by Rs 2. The new prices for 80dn roto is Rs 104, for weft Rs 99, and for micro roto Rs 110.

In the case of 150dn, weft is priced at Rs 85, single roto at Rs 88 and double roto at Rs 90.

The market price of grey first quality 80dn roto ruled at Rs 102-103, weft at Rs 96-97,150dn weft at Rs 82-83 and single roto at Rs 86-87.

Cotton improves
Cotton market presented a firm stance under the lead of Punjab staple cotton.On active buying support from the local mills J-34 rates fimed up by Rs 25 a maund. Saw-ginned good average rose to Rs 1550-1685, cart selected to Rs 1570-1725 and roller-ginned to Rs 1485-1510 spot. Bengal Deshi at Rs 1040-1095 improved by Rs 5 to 10. The arrivals were 1200 bales of Bengal Deshi and 7500 bales of J-34.

V-797 gained Rs 100 a candy at Rs 15,700-15,900.

April contract had settled higher by 86 points at Rs 4501 and June by 93 points at Rs 4622 on bull support.

However, New york price reacted by 0.70 to 0.85 cents as March ruled at 58.65, May at 60.68, July at 62.09 and October at 62.05 cents.

Sugar flares up
Sugar continued to flare up on hectic buying support.

Ex-godown, the price shot up by Rs Rs 25 a quintal as M-30 ruled at Rs 1535-1593 and S-30 at Rs 1480-1511. Ex-octroi checkpost, M-30 at Rs 1510-1540 and S-30 at Rs 1460-1485 were up by Rs 10.

In tenders, M-30 rose from Rs 1450-1460 to Rs 1460-1480 and S-30 from Rs 1400-1425 to Rs 1420-1450 in Kolhapur line.

Imported sugar EEC-2 ruled at Rs 1610.

Tur softens
Tur and green peas price softened up on the grains market. Elsewhere, a steady condition prevailed.

Tur price eased by Rs 50 a quintal on selling pressure. Myanmar old ruled at Rs 1300 and new at Rs 1450. Malawi tur found sellers at Rs 1500, Kenya at Rs 1600 and Tanzanian at Rs 1650. Green peas Canada dipped from Rs 975 to Rs 950. Rumba/Heart USA held steady at Rs 1400 on restricted supply. Urad Myanmar declined by Rs 25 at Rs 1950.

Wheat milling indigenous at Rs 740, imported red at Rs 690 and imported white at Rs 811-815 were maintained. Pakistan rice continued to be transacted at Rs 880-890 ex-dock and at Rs 911-950 ex-godown.