23/09/2007 (The Economic Times), NEW DELHI - Commodity prices remained bullish during the past week under review with edible oils, wheat, jeera and sugar prices gaining fresh ground on buying by stockists amid restricted arrivals.
Meanwhile, gold prices remained notably higher as the precious metals in global markets surged to 28-years high amid weakening dollar and rising crude oil prices which reached record levels at around 84 dollar a barrel.
Rising rupee against dollar to 9-year high made import of select pulses cheaper. Government decision to import pulses and wheat through its agencies might further pull down prices of pulses like moong, moth and kabli, and gram as well as wheat in the foodgrain section.
The government’s decision to keep the levy customs duties unchanged on palm oil and soyabean oil for the next fortnight to stabilise prices of the commodities at current levels also helped in stabilising the oil market to some extent.
Tariff values of six palm oils and crude soybean oil have not been changed for the next 15 days.