Edible oils extend mixed trend

A mixed trend continued to persist at the wholesale oil and oilseeds market during second straight week as prices of select edible oils, palmolein and soyabean, strengthened on sustained buying by vanaspati millers and retailers amid a firming global trend, while a few others remained weak on muted demand against adequate stocks.
Linseed oil in the non-edible section, also made further headway on rising demand from consuming industries.
Marketmen said increased buying by vanaspati units and retailers and a firming global trend mainly kept select edible oil prices higher.
Meanwhile, palm futures climbed to 2,632 ringgit (USD 632) a metric tonne, the highest level since April 2014 on Bursa Malaysia Derivatives in Kuala Lumpur as supplies dwindle and global inventories shrink.

In the national capital, groundnut mill delivery (Gujarat) edged up by Rs 50 to Rs 9,150 per quintal, groundnut solvent refined held steady at Rs 1,700-1,800 per tin on retailers demand.
Tracking a firming global trend, palmolein (RBD) and palmolein (Kandla) oils advanced by Rs 150 each to Rs 5,450 and Rs 5,400, while crude palm oil (ex-kandla) traded higher by Rs 100 to Rs 4,200 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and gained another Rs 100 each to Rs 6,500 and Rs 6,200, respectively.
On the other hand, mustard expeller (Dadri) oil declined by Rs 100 to Rs 8,300 per quintal due to slackened demand. Mustard pakki and kachi ghani oils too eased by Rs 50 each to Rs 1,300-1,350 and Rs 1,350-1,450 per tin.

Sesame mill delivery also shed Rs 100 at Rs 6,700 per quintal. Coconut oil also finished lower at Rs 1,800-1,850 from previous week's close of Rs 1,850-1,900 per tin.
Grains: Rice basmati and a few other bold grains firmed up
at the wholesale grains market during the week on fresh buying by stockists against restricted supplies from producing belts.
However, wheat ended marginally lower on reduced offtake by flour mills.
Traders said fresh buying by stockists against restricted supplies from producing regions mainly led to the rise in rice basmati and a few other bold grains prices.
They said, however, reduced offtake by flour mills against adequate stocks position kept pressure on wheat prices.

In the national capital, rice basmati common and Pusa-1121 variety moved up to Rs 5,100-5,200 and Rs 3,800-4,700 from previous week's levels of Rs 4,900-5,000 and Rs 3,750-4,650 per quintal, respectively.
Other bold grains like bajra and maize also finished higher at Rs 1,430-1,435 and Rs 1,660-1,665 per quintal as compared to previous close of Rs 1,390-1,400 and Rs 1,620-1,625 per quintal, respectively.
On the other hand, wheat dara (for mills) weakened by Rs 5 to Rs 1,695-1,700 per quintal. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,700-1,710 per 90 kg.