Edible oils extend gains on rising demand

Edible oils extended gains for yet another week at the wholesale oils and oilseeds market during the week on the back of increased demand from retailers coupled with increased offtake by vanaspati millers.
Castor oil in the non-edible section, also strengthened on persistent demand from consuming industries.
Marketmen said sustained buying by retailers and vanaspati units to meet rising demand, mainly kept edible oil prices higher.
In the national capital, groundnut mill delivery (Gujarat) oil advanced by Rs 200 to Rs 12,400 per quintal, while groundnut solvent refined held steady at Rs 1,910-1,960 per tin.
Mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils rose by Rs 100 and Rs 50 to Rs 8,400 and Rs 6,450 per quintal, respectively.

Mustard pakki and kachi ghani oils traded also higher by Rs 20 each to Rs 1,320-1,370 and Rs 1,370-1,470 per tin respectively.

Palmolein (RBD) and palmolein (Kandla) oils too went up by Rs 50 each to Rs 5,850 and Rs 5,900 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and strengthened by a similar margin to Rs 6,800 and Rs 6,500 per quintal, respectively.
Grains: Wheat prices edged higher at the wholesale
grains market during the week largely supported by increased offtake by flour mills against tight supplies in the market.
Maize also strengthened on pick up in demand from consuming industries.

Traders said besides increased offtake by flour mills, tight stocks in the market on fall in arrivals from producing belts, mainly led to rise in wheat prices.
In the national capital, wheat dara (for mills) and wheat (desi) edged up to Rs 1,810-1,815 and Rs 2,300-2,850 from previous weeks's close of Rs 1,795-1,800 and Rs 2,285-2,835 per quintal respectively. Atta chakki delivery followed suit and traded higher at Rs 1,815-1,820 against last level of Rs 1,800-1,805 per quintal.
Other bold grains like, maize also finished higher at Rs 1,650-1,660 as compared to previous week's level of Rs 1,625-1,635 per quintal.

Pulses: The wholesale pulses market depicted a firm trend
during the week with prices of select commodities led by gram, soaring on speculative buying by stockists, driven by rising demand from retailers amid tight stocks positions despite government measures to curb rising prices.
Traders said speculative buying by stockists, triggered by paucity of stocks in the markets and increased demand from retailers, mainly pushed up gram and other pulses prices.
The government has recently decided to enhance the buffer stock limit of pulses to 8 lakh tonnes from 1.5 lakh tonnes for making market intervention when prices firm up in retail markets. It is also importing pulses to boost domestic supply.

The government has procured 1.19 lakh tonnes of pulses so far from farmers for creating buffer stock and also contracted to import 46,000 tonnes as part of its effort to cool prices.
The Centre will also ask state governments to expedite lifting of pulses from the buffer stock for sale at subsidised rate not more than Rs 120 per kg.
To relieve consumers from skyrocketing prices of pulses, the Centre on Thursday directed National Consumer Cooperative Federation (NCCF) to sell chana (gram) dal at a subsidised rate of Rs 60/kg in the national capital.
NCCF is already selling tur and urad at a subsidised rate of Rs 120/kg along with Mother Dairy and Kendriya Bhandar.

The government also decided to import 7,500 tonnes of chana and masoor dal in the coming days to boost domestic supply and curb prices.
In the national capital, gram, gramdal local and best settled notably higher at Rs 7,600-8100, Rs 7,900-8,200 and Rs 8,300-8,400 as compared to previous week's levels of Rs 6,900-7,400, Rs 7,200-7,500 and Rs 7,600-7,700 per quintal respectively.
Kabli gram small variety followed suit and rose by Rs 200 to Rs 8,200-9,500 per quintal.
Besin Shaktibhog and Rajdhani quoted higher at Rs 3,350 each instead of Rs 3,120 per 35 kg bag in line with gram trend.

Urad and its dal chilka local also went up by a whopping Rs 400 each to Rs 10,800-12,300 and Rs 11,100-12,200 per quintal respectively. Its dal best quality and dhoya followed suit and enquired higher by a similar margin to to Rs 11,200-11,700 and Rs 11,600-11,900 per quintal respectively.
Arhar and its dal dara variety ended higher at Rs 9,150 and Rs 12,000-13,700 against last levels of Rs 8,900 and Rs 11,700-13,400 per quintal, respectively.
Masoor small and bold rose by Rs 100 each to Rs 6,050-6,350 and Rs 6,100-6,400 per quintal respectively. Its dal local and best quality traded higher by the same margin to Rs 6,600-7,100 and Rs 6,700-7,200 per quintal.

Malka local and best quality too finished higher by Rs 100 each to Rs 7,100-7,400 and Rs 7,200-7,500 per quintal respectively.
In line with overall trend, peas white and green moved up by Rs 200 each to Rs 3,600-3,625 and Rs 3,800-3,900 per quintal.
However, moong and its dal chilka local moved in a narrow range in scattered deals and settled steady at Rs 6,100-6,700 and Rs 6,650-7,050 per quintal respectively. Its dal dhoya local and best quality traded at previous levels of Rs 7,050-7,550 and Rs 7,550-7,750 per quintal respectively.
SUGAR: Powered by strong demand from bulk consumers and

retailers, sugar prices spurted by up to Rs 70 per quintal at the wholesale sugar market in the national capital during the week under review.
Marketmen attributed rise in sweetener prices to robust demand from bulk consumers such as soft-drink and ice-cream makers, driven by ongoing summer season.
Moreover, reports of a firming trend in overseas markets also influenced sugar prices, they said.
Sugar ready M-30 and S-30 prices were up by Rs 20 each to settle the week at Rs 3,810-3,880 and Rs 3,800-3,870 per quintal.
Mill delivery M-30 and S-30 too enquired higher by Rs 40 each to end at Rs 3,480-3,580 and Rs 3,470-3,570.

In the millgate section, sugar Budhana and Thanabhavan rose by Rs 70 each to Rs 3,560 and Rs 3,550 per quintal.
Also, Dorala, Dhanora and Chandpur by Rs 60 each to conclue at Rs 3,570, Rs 3,550 and Rs 3,540 per quintal.
Sugar Mawana, Asmoli, Dhampur and Sakoti rose by Rs 50 each to finish at Rs 3,570, Rs 3,550, Rs 3,540 and Rs 3,540, while Kinnoni and Khatuli up by Rs 40 each to Rs 3,580 and Rs 3,570 per quintal respectively.
Prices of Simbholi and Nazibabad increased by Rs 30 each to Rs 3,570 and Rs 3,560, while Ramala, Anupshaher and Baghpat gained by Rs 20 each to Rs 3,550, Rs 3,540 and Rs 3,560 per quintal.

JAGGERY: Weak conditions prevailed at the wholesale gur
(Jaggery) market in the national capital during the week under review with prices of some varieties falling by up to Rs 100 per quintal on increase arrivals from growing regions amid selective buying by retailers and stockists.
On the other hand, Muzaffarnagar and Muradnagar gur markets depicted a mixed trend as prices of some gur varieties rose,while others decline on sluggish demand.
In Delhi, gur pedi declined from previous week's closing levels of Rs 3,900-4,000 to settle at Rs 3,800-4,000, persisting a net fall of Rs 100 per quintal.
Similarly, gur Dhayya prices dropped by Rs 100 to end the week at Rs 4,000-4,100 per quintal.

While, gur Chakku and Shakkar prices ruled flat throughout the week at Rs 3,600-3,700 and Rs 4,100-4,200 per quintal respectively.
At Muzaffarnagar, gur Raskat registered a rise of Rs 100 to close at Rs 2,900-2,950 per quintal due to shortage of stocks along with brisk demand from beer makers but prices of gur chakku fell by Rs 100 during the week at Rs 3,200-3,300 per quintal.
At Muradnagar, prices of gur pedi advanced from previous week's closing levels of Rs 3,500-3,550 to finish at Rs 3,500-3,600.
Dryfruits: Almond and walnut prices declined at the
wholesale dry fruits market in the national capital during the week as demand from retailers and stockists receded.

Sufficient stocks following increased arrivals from producing belts also put pressure on the prices, traders said.
Almond California prices fell by Rs 500 to end the week at Rs 15,800-16,000 per 40 kg, while its kernel traded lower by Rs 25 at Rs 555-565 per kg.
Almond gurbani and girdhi prices fell by up to Rs 200 to conclude at Rs 10,500-11,200 and 5,200-5,400 per 40 kg, respectively.
Cashew kernel (No 180, 210, 240 and 230) prices were down by Rs 5 each per kg to finish at Rs 895-925, Rs 835-845, Rs 745-755 and Rs 670-695 and its broken (2, 4 and 8 pieces) also declined Rs 5 each to conclude at Rs 570-650, Rs 540-640 and Rs 530-610 per kg, respectively.

Copra fell up to Rs 500 to finish at Rs 9,000-11,000 per quintal.
Kishmish Indian yellow and green traded lower at Rs 2,700-4,400 and Rs 4,900-8,900 per 40 kg bag.
Pistachio hairati and peshawari also eased up to Rs 10 to finish at Rs 1,140-1,200 and Rs 1,350-1,425 per kg, respectively.
Walnut and its kernel prices also drifted down by Rs 10 each to ended at Rs 290-390 and Rs 790-1,040 per kg.