Edible oils back in form on millers buying; tight supply

The wholesale oils and oilseeds market displayed a better trend during the week with select edible oils prices recovering on emergence of buying from vanaspati millers and retailers against restricted supplies.
Linseed oil in the non-edible section too moved up on increased offtake by consuming industries.
Marketmen said fresh spell of buying support from vanaspati millers and retailers, triggered by ongoing wedding season against restricted supplies from producing regions amid a firm global trend, mainly led to recovery in select edible oil prices.
Meanwhile, the Agriculture Ministry has proposed further hike in import duty of edible oils by 5 per cent in a bid to protect the interest of farmers.

In September, the government had raised import duty on crude edible oils to 12.5 per cent from 7.5 per cent, while the duty on refined edible oils was increased to 20 per cent from 15 per cent.
In the national capital, groundnut mill delivery (Gujarat) oil prices improved gradually by Rs 150 to Rs 9,150 per quintal, while groundnut solvent refined oil edged up by Rs 40 at Rs 1,730-1,780 per tin.

Mustard expeller (Dadri) oil remained in demand and advanced by Rs 200 to Rs 9,000 per quintal. Mustard pakki and kachi ghani oils traded higher by Rs 30 each to Rs 1,550-1,600 and Rs 1,600-1,700 per tin respectively.

Tracking a firm global trend, palmolein (RBD) and palmolein (Kandla) oils went up by Rs 50 each to Rs 5,450 and Rs 5,400, while crude palm oil (ex-kandla) traded higher by a similar margin to Rs 4,200 per quintal respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and enquired higher by a similar margin to Rs 6,600 and Rs 6,300 per quintal, respectively.
Grains: In a mixed pattern of trading at the wholesale
grains market during the week, rice basmati eased on sufficient stocks against easing demand while maize and bajra moved up on increased offtake by consuming industries.

Marketmen said adequate stocks position largely on pick up in supplies from producing regions against drop in demand at higher levels mainly dragged down rice basmati prices.
They said, however, increased demand from consuming industries led to rise in maize and bajra prices..
In the national capital, rice basmati common and Pusa-1121 variety slipped to Rs 6,200-6,300 and Rs 4,700-5,500 from previous week's levels of Rs 6,300-6,600 and Rs 5,300-6,300 per quintal, respectively.
On the other hand, non-basmati rice, permal raw, wand, sela and IR-8 after moving in a narrow range in limited deals, settled around previous levels of Rs 1,950-2,000, Rs 2,200-2,275, Rs 2,750-2,850 and Rs 1,700-1,720 per quintal, respectively on some support.

However, other bold grains like maize and bajra strengthened to Rs 1,680-1,730 and Rs 1,410-1,420 against last close of Rs 1,650-1,700 and Rs 1,380-1,390 per quintal respectively.
Pulses: The wholesale pulses market depicted a mixed
trend as select pulses led by moong continued to slide for yet another week on adequate stocks position and improved supplies from producing regions against sluggish demand.
However, a few others edged up on scattered buying support.
Traders said adequate stocks position on higher supplies in the market after the government took steps to check rising prices, mainly kept pressure on select prices.
Meanwhile, about 1.23 lakh tonnes of pulses seized from hoarders have been disposed-off in the open market so far to boost supply and contain rising prices.

In the national capital, moong and its dal chilka local fell further by Rs 100 each to Rs 6,900-7,450 and Rs 7,350-7,750 per quintal,respectively.
Its dal dhoya local and best quality followed suit and traded lower by a similar margin to Rs 7,750-8,250 and Rs 8,250-8,450 per quintal, respectively.
Malka local and best shed Rs 50 each to Rs 5,650-6,150 and Rs 5,750-6,150 per quintal, respectively.
Urad and its dal chilka local also drifted by Rs 100 each to Rs 8,900-11,200 and Rs 9,700-9,900 per quintal, respectively. Its dal best quality and dhoya enquired lower by the same margin to Rs 9,800-10,400 and Rs 10,200-10,600 per quintal, respectively.

On the other hand, masoor small and bold gained Rs 50 each to Rs 4,800-5,050 and Rs 4,850-5,100 per quintal. Its dal local and best quality edged up by a similar margin to Rs 5,550-6,050 and Rs 5,650-6,150 per quintal. Rajmah chitra traded higher by Rs 50 to Rs 5,000-6,300 per quintal.
Dryfruits: Led by almond and walnut, dry fruit prices
fell at the wholesale market during the past week on reduced offtake at existing higher levels against adequate stocks position.
Traders said subdued demand from bulk consumers against adequate stocks position amid weakening trend in producing regions mainly led to the fall in select dry fruit prices.

Almond california prices declined by up to Rs 500 to conclude at Rs 16,100-16,300 per 40 kg and its kernel prices eased by Rs 20 to finish at Rs 580-590 per kg, respectively.
Almond gurbandi and girdhi drifted up to Rs 400 to settle at Rs 9,700-10,100 and Rs 6,200-6,700 per 40 kg.
Cashew kernel (No 180, 210, 240 and 230) declined Rs 5 each to end at Rs 755-765, Rs 655-665, Rs 620-625 and Rs 575-580, while its pieces (2, 4 or 8) placed lower at Rs 520-585, Rs 520-590 and Rs 485-550 per kg, as against the previous close of Rs 525-595, Rs 525-590 and Rs 490-555 per kg.

Copra prices fell by Rs 200 to finish at Rs 12,200-14,000 per quintal.
Kishmish Indian yellow and green dropped by Rs 100 each to conclude at Rs 3,000-4,000 and Rs 3,800-9,000 per 40 kg.
Pistachio hairati and peshawari prices eased Rs 10 each to settle at Rs 1,245-1,375 and Rs 1,370-1,395 per kg, respectively.
Kirana: Select spices, led by black pepper and jeera,
depicted a weak trend during the week under review on stockists selling against slowdown in buying activity at prevailing levels and closed with widespread losses.
Sentiments turned weak on adequate stocks position following increased arrivals from producing belts, traders said.

Black pepper (inferior quality) eased by Rs 10 to conclude at Rs 670-850 per kg owing to reduced offtake by stockists following sluggish demand from exporters.
Cardamom brown jhundiwali and kanchicut drifted up to Rs 40 to finish at Rs 1,330-1,340 and Rs 1,400-1,750 per kg, respectively.
Cardamom small varieties such as chitridar, colour robin, bold and extra bold fell up to Rs 45 to Rs 500-605, Rs 530-540, Rs 560-570 and Rs 600-610 per kg, respectively.
Coriander slipped to Rs 8,100-14,400 from last week's close of Rs 8,200-14,500 per quintal.
Nutmeg prices dropped by Rs 20 to conclude at Rs 490-500 per kg.

Poppyseed (Turkey, China and MP-RAJ) prices eased by Rs 10 each to close at Rs 340-370, Rs 340-360 and Rs 360-400 per kg, respectively.
Red chilli and turmeric prices declined by Rs 100 each to conclude at Rs 9,900-15,400 and 10,000-14,200 per quintal, respectively.
Sugar: Sugar continued its upward journey for the second
consecutive week at the wholesale market supported by strong buying by stockists and bulk consumers amid a firming trend in the international markets, and prices rose by up to Rs 120 per quintal.
Marketmen attributed persistent rise in sweetener prices to strong buying by soft-drink and ice-cream makers ahead of summer season and an upward trend in global markets.

Besides, surge in export demand too influenced sugar prices, they said.
Prices of sugar ready M-30 and S-30 climbed further by Rs 120 each to end the week at Rs 3,420-3,550 and Rs 3,410-3,540 per quintal.
Likewise, mill delivery M-30 and S-30 too spurted by Rs 50 each to finish the week at Rs 3,120-3,220 and Rs 3,110-3,210 per quintal, respectively.
In the millgate section, sugar Budhana, Thanabhavan and Dhanora were up by Rs 70 each to Rs 3,160, Rs 3,150 and Rs 3,140 per quintal.
Also, sugar Malakpur, Mawana, Dhampur, Dorala, Baghpat, Chandpur, Morna, Nazibabad and Sakoti improved by Rs 60 each to Rs 3,140, Rs 3,160, Rs 3,130, Rs 3,160, Rs 3,140, Rs 3,130, Rs 3,140, Rs 3,130 and Rs 3,140 per quintal, respectively.

Prices of Kinnoni, Simbholi, Ramala, Khatuli and Anupshaher gained by Rs 50 each to Rs 3,220, Rs 3,210, Rs 3,130, Rs 3,210 and Rs 3,120, meanwhile Asmoli rose by Rs 40 at Rs 3,190 per quintal.
Jaggery: Weak conditions remained unabated at the
wholesale gur (jaggery) market in the national capital during the week under review due to reduced offtake by stockists following fall in demand amid ample stocks position and prices fell further by Rs 100 per quintal.
Muradnagar and Muzaffarnagar gur markets too showed a weak trend largely on mounting stocks following increased arrivals.
Marketmen attributed the fall to ample position of ready stocks against considerable fall in demand.

In Delhi, gur Dhayya, Chakku, Pedi and Shakkar prices fell by Rs 100 each to conclude the week at Rs 2,800-2,900, Rs 2,700-2,800, Rs 2,600-2,700 and Rs 2,900-3,000 per quintal, respectively.
At Muzaffarnagar, gur Chakku, Khurpa and Laddoo declined further by Rs 50 each to settle the week at Rs 2,400-2,500, Rs 2,300-2,350 and Rs 2,400-2,450 per quintal, respectively.
Gur Raskat prices also dropped by Rs 50 during the week to terminate at Rs 2,300-2,350 on selective buying by beer makers.
Coming to Muradnagar, prices of gur pedi fell further by Rs 50 at Rs 2,300-2,350, while gur dhayya prices managed to end at last week's closing levels at Rs 2,400-2,450 per quintal.