Delhi, June 8: Import of edible oils, during the current oil year was morethan 20 lakh tonnes as against the demand-supply gap of 20 lakh tonnes,consequently, domestic oil industry was hit hard. During last year, importof edible oils went up from 20.80 lakh tonnes to 43.90 lakh tonnes, eventhen, MMTC procured 35,000 tonnes palmolein from Malaysia and deals forabout one lakh tonnes are being settled with Indonesia.As a result, sunflower, cottonseed and mustard oils fell by Rs 10 to Rs 100a quintal while groundnut oil ruled firm at Rs 4000 a quintal due to paucityof ready stock.
Among industrial oils, mahuwa and linseed oils fell by Rs 50 a quintal onselling pressure from the producing mandies.
Mumbai: Edible oils shot up sharply on the oils and oilseeds markethere today. Industrial oils also edged up.
Groudnnut oil shot up sharply on good demand from consumers and shortage ofstock. Imported palm oil also moved up on higher global advices.
Groundnut oil firmed up further by Rs 10 to end at Rs 375 from Rs 365.Improted palm oil also recovered by Rs 4 to close at Rs 216 from Rs 212.Turning to the industrial section, linseed oil also hardned further by Rs 3to Rs 265 on sustained buying from paint industries. Castorseeds and its oilboth edged up to Rs 1680 and Rs 366 respectively from Rs 1675 and Rs 365previously.
Moving to the futures section, castorseeds September contract closed higherat Rs 1692 as against Rs 1688 yesterday. In the castoroil internationalcontract, August delivery was quoted lower at Rs 376 as compared to Rs 378previously.
Urad flares up
Barring barley, steady-to-firm conditions were witnessed at the Delhi grainsand pulses market on Thursday.
In the wake of firm dollar, Mumbai importers withheld their inventories,consequently, urad Rangoon and Maharashtra further flared up from Rs 2635and Rs 2650 to Rs 2700 and Rs 2675 a quintal, respectively. Similarly, dalurad Chhilka and dhoya recorded a sharp rise of Rs 50-100 at Rs 2600 and Rs4000 a quintal, respectively. Superior urad dal of Indore, which on Tuesdaywas priced at Rs 3700, shot up to Rs 4000 a quintal onn Thursday.
Moong went up by Rs 25 at Rs 1950-2175 a quintal due to mutual buying andselling. Moth, masoor and gram prices flared up by Rs 10 to Rs 100 a quintal.Among cereals, wheat dara improved by Rs 5 a quintal as arrivals remainedpoor due to rainy weather conditions. Roller flour mill atta also improvedby Rs 5 at Rs 610 per bag. As against this, Uttar Pradesh barley fell fromRs 610-625 to Rs 590-610 a quintal due to poor quality.
Cardamom small dips
On panic selling by the stockists, cardamom small colour Robin dipped by Rs10 at Rs 490-510 a kg while mace Kochi improved by Rs 10 at Rs 425 a kg dueto restricted supply.
Zeera Ganesh old and new held steady at Rs 9100-9600 a quintal, thoughdemand at these rates was reported dull.
Among dry fruits, coconut powder in 25 kg packing fell sharply by Rs 100 atRs 1050 per bag due to weak demand from halwais.
Bullion down
Both the precious metals at the Delhi bullion market displayed an easytendency on Thursday on overseas advices.
On panic selling at higher rates, gold in London fell from $290 to $285 anounce, consequently, gold biscuit and standard mint gold here, fell by Rs 30at Rs 4540 and Rs 4550 per 10 gram, respectively on unloading by theimporters.
New York silver future on Wednesday evening slipped from 507 cents to 502cents improved to 506 cents an ounce on Thursday, consequently, spot silver.999 fineness and silver weekly delivery improved to Rs 7825 and Rs 7850 akg, respectively, still lower by Rs 5 a kg as compared to Wednesday noonprices. Silver coins remained unaltered at Rs 10,700-10,800 per 100pieces.
Mumbai: Gold eased modestly while silver remained steady at theMumbai bullion market on Thursday.
Prices of gold biscuit dropped by Rs 150 to Rs 52,750 (Rs 52,900)per 10 tolaat the end of the session following weak London advices and gold traded at alow level of $285.50 per ounce against $288 earlier. Local and upcountrydemand mainly from jewellery makers were very poor in the face of betterarrivals of gold biscuit. Similarly, standard mint and 22-carat prices alsoeased modestly by Rs 10 each to Rs 4500 (Rs 4510) and Rs 4160 (Rs 4170) per10 gram, respectively on scattered offerings by local stockists . However,silver raw grade remained unchanged at Rs 7850 per kg while silver .999variety price looked up slightly by Rs 5 to Rs 7975 (Rs 7970) at the end ofthe trading day on scattered buying support from local dealers.
Sugar improves
On reports of release of 10 lakh tonnes sugar for export without levyobligation, mill delivery sugar prices improved by Rs 5-15 a quintal.Mill delivery sugar prices in Maharashtra also firmed by Rs 10 at Rs1345-1380 a quintal.
Gur prices held steady at their previous close amidst tight supplyposition.
Citric acid shoots up
Citric acid Bombay Dyeing shot up by Rs 100 to Rs 4400 per 50 kg as thecompany had not supplied for many days. On the other hand, Chinese citricacid held unchanged at Rs 3750 per 50 kg on sluggish inflow which wasunmatched by demand from cold drinks and confectionary units.
Mentha oil, flake and bold fimed up further by Rs 5 to Rs 313, Rs 400 and Rs435 per kg on higher advices from Uttar Pradesh. DMO eased further by Rs 2per kg.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.