Edible oils decline on subdued demand, adequate stocks

Edible oil prices drifted lower at the wholesale oils and oilseeds market during the week amid muted demand from vanaspati millers and retailers.
A few oils in the non-edible section also eased on reduced offtake by consuming industries.
Traders said, apart from easing demand from retailers and vanaspati millers, adequate stocks position on increased supplies from producing regions, mainly led to the decline in edible oil prices.
Meanwhile, palm oil imports fell for the third straight month by 11.56 per cent to 6,08,762 tonnes in January, on account of good domestic oilseeds production and better availability of edible oils, industry body Solvent Extractors Association (SEA) said.

India, the world's leading vegetable oil buyer, had imported 6,88,393 tonnes palm oil in January 2015.
In the national capital, groundnut mill delivery(Gujarat) oil fell by Rs 200 to Rs 9,700 per quintal.

Mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils declined by Rs 50 each to Rs 8,400 and Rs 6,750 per quintal, respectively.
Palmolein (RBD) and palmolein (Kandla) oils also drifted lower by Rs 150 each to Rs 6,150 and Rs 6,200 per quintal.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too shed Rs 50 each at Rs 6,900 and Rs 6,600 per quintal, respectively.

Grains: Weak conditions prevailed at the wholesale grains
market during the week as wheat and rice basmati prices drifted lower owing to reduced offtake against adequate stocks position.
Traders said, adequate stocks in the market on improved supplies from producing belts against reduced offtake by flour mills, mainly put pressure on wheat prices.
Expectations of bumper crop this year also weighed on wheat prices, they said.
Meanwhile, government fixed wheat procurement target at 33 million tonnes during the marketing year starting April as against 22.96 million tonnes purchased by FCI during this year.
Muted demand from retailers and exporters helped rice basmati prices to end lower, they added.

In the national capital, wheat dara (for mills) and wheat (Desi) slipped to Rs 2,660-2,960 and Rs 1,900-1,910 from previous week's levels of Rs 2,730-3,030 and Rs 1,960-1,970 per quintal.
Atta chakki delivery followed suit and eased to Rs 1,910-1,940 from last week's close of Rs 1,970-2,000 per 90 kg.
Atta flour mills, maida and sooji also settled lower at Rs 1,000-1,010, Rs 1,110-1,120 and Rs 1,190-1,200 from previous levels of Rs 1,070-1,080, Rs 1,160-1,170 and Rs 1,250-1,260 per 50 kg respectively in line with wheat trend.
In the rice section, rice basmati common and Pusa-1121 variety too edged down to Rs 5,700-7,100 and Rs 7,200-7,300 as compared to the previous close of Rs 7,300-7,500 and Rs 6,100-7,500.

Pulses: In a mixed pattern of trading, kabuli gram and
gram prices surged by up to Rs 400 per quintal at the wholesale market during the week on increased buying by stockists, driven by rising demand from retailers against tight stocks position on fall in supplies.
However, arhar, urad settled lower owing to slackened demand.
Traders said brisk buying by stockists amid shortage of ready stocks in the market on fall in supplies and pick up in demand from retailers, mainly pushed up kabuli gram and gram prices.
Meanwhile, the government said it has so far created pulses buffer stock of 1.1 million tonnes and asked the procurement agencies such as FCI and NAFED to sell older stockpile.

The government had earlier decided to create 2 million tonnes of buffer stock for making market intervention in case of price rise.
In the national capital, kabuli gram small variety surged by Rs 400 to Rs 9,400-9,900 per quintal. Gram, gramdal local and best quality also shot up by Rs 300 each to Rs ,700-5,900, Rs 6,600-6,900 and Rs 7,000-7,100 per quintal, respectively.
Masoor small and bold edged up by Rs 50 each to Rs 4,750-4,900 and Rs 4,800-5,000 per quintal. Its dal local and best quality ended higher by Rs 100 each to Rs 5,100-5,600 and Rs 5,200-5,700 per quintal.

Moth too inched up by Rs 50 to Rs 3,650-4,050 per quintal.
On the other hand, arhar and its dal dara variety fell by Rs 100 each to Rs 4,550 and Rs 6,400-8,200 per quintal.
Sugar: The wholesale sugar market depicted a divergent
trend in the national capital during the week with the spot prices falling in supply pressure from mills, while millgate prices rose on the back of increased offtake by stockists and bulk consumers.
Marketmen said, the fall in sugar spot prices was mostly attributed to ample stocks following persistent supplies from mills but millgate prices extended gains on sustained buying by stockists and bulk consumers on the back of ongoing wedding season demand.

In the price section, sugar ready M-30 and S-30 traded lower at Rs 4,020-4,120 and Rs 4,010-4,110 as against last week's closing of Rs 4,050-4,130 and Rs 4,140-4,120, respectively.
Mill delivery M-30 and S-30 prices also dropped marginally by Rs 5 each to end the week at Rs 3,725-3,810 and Rs 3,720-3,800 compared from last week's levels of Rs 3,730-3,810 and Rs 3,720-3,800.
Coming to millgate section, prices of sugar Khatuli and Baghpat advanced further by Rs 30 each to Rs 3,810 and Rs 3,760 per quintal.
Jaggery: Prices came down by Rs 100 per quintal at the
wholesale gur (jaggery) market in the national capital during the week following steady inflow of arrivals from manufacturing areas amid slackened demand.

Muzaffarnagar and Muradnagar gur markets also witnessed a subdued trend, with prices falling by a similar margin, dragged down on supply pressure.
Marketmen said, mounting stocks on persistent supplies from manufacturing belts coupled with reduced offtake by stockists and retailers, mainly kept pressure on gur prices.
In Delhi, gur Chakku, Dhayya, Pedi and Shakkar prices came down by Rs 100 each to conclude the week at Rs 3,200-3,300, Rs 3,400-3,500, Rs 3,200-3,300 and Rs 3,500-3,600 per quintal, respectively.
At Muradnagar, gur Pedi and Chakku declined by Rs 100 each to finish the week at Rs 2,825-2,900 and Rs 2,900-2,950 per quintal.

Coming to Muzaffarnagar, gur Khurpa dropped by Rs 100 to settle the week at Rs 2,825-2,850 per quintal.
Gur Chakku and Laddoo prices also fell by Rs 50 each during the week to trade at Rs 2,950-3,050 and Rs 2,900-2,950 per quintal.
Dryfruits: A subdued tendency ascertained at the
wholesale dryfruits market in the national capital during the week following fall in demand amid relentless supplies and registered fresh losses.
Market players said huge stocks following non-stop supplies from growing regions mainly weighed on select dryfruits' prices.
However, ongoing wedding season demand somewhat managed to avoid major fall in prices, they added.

In the price section, almond california prices dropped by Rs 400 to settle the week at Rs 16,800-17,000 per 40 kilogram, while its kernel fell by Rs 10 to end the week at Rs 605-610 per kilogram.
Cashew kernel no 180, 210, 240 and 320 eased by Rs 5 each to conclude the week at Rs 1,070-1,080, Rs 950-960, Rs 910-920 and Rs 780-790 per kilos, while copra prices dipped by Rs 100 to close at Rs 8,900-11,400 per quintal.
Pistachio Irani, Hairati and Peshawari leaned down by Rs 5 each to end the week at Rs 1,020-1,120, Rs 1,425-1,480 and Rs 1,545-1,595 per 40 kilo.

Kirana: Firm conditions emerged at the wholesale kirana
market in the national capital during the week with prices rising to close higher on the back of increased buying by stockists and retailers largely driven by ongoing wedding season amid restricted arrivals added notable gains.
However, prices of red chilli and cloves remained low on higher supplies from growing regions.
Marketmen said steady inflow of buying by stockists as well as retailers, triggered by ongoing wedding season demand along with short supplies from producing regions, mainly led to the rise in prices.
In the price section, cardamom brown jhundiwali and kanchicut spurted from Rs 790-800 and Rs 860-1,070 to end the week at Rs 840-850 and Rs 900-1,125 per kilo.

Likewise, cardamom small chitridar, color robin, bold and extra bold enquired higher at Rs 1,375-1,475, Rs 1,340-1,370, Rs 1,390-1,420 and Rs 1,500-1,525, revealing gains up to Rs 30 per quintal.
Prices of Jeera common and best quality climbed up by Rs 300 and Rs 200 to finish the week at Rs 19,100-19,300 and Rs 21,100-21,600, while turmeric traded higher by Rs 100 to conclude the week at Rs 7,700-11,400 per quintal, respectively.
Also, coriander prices went up by Rs 400 to settle at Rs 7,600-14,100 per quintal.
Meanwhile, selective buying by stockists and persistent supplies from growing regions particularly brought the prices of red chilli and cloves down, they quoted.

Red chilli lost fresh grounds during the period and settled at 6,800-16,300 per quintal and clove prices slipped by Rs 50 to Rs 540-650 per kilo.