Edible oils strengthen as retailers, millers buying picks up

Select edible oils extended gains for the second straight week at the wholesale oils and oilseeds market on the back of increased buying by vanaspati millers and retailers coupled with restricted supplies from producing belts amid firming trend overseas.
Few oils in the non-edible section also went up due to increased offtake from consuming industries.
Marketmen said sustained buying by vanaspati millers to meet rising demand from retailers amid tight supplies from producing regions mainly kept prices of select edible oil higher.
Besides, a firming global trend influenced the sentiment, they added.
In the national capital, groundnut mill delivery (Gujarat) oil spurted by Rs 300 to Rs 10,600 per quintal while groundnut solvent refined edged up to Rs 1,900-1,950 from the previous level of Rs 1,850-1,950 per tin.

Palmolein (RBD) and palmolein (Kandla) oils were also up by Rs 50 each to Rs 5,900 and Rs 5,950, while crude palm oil (ex-kandla) held steady at 4,300 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and ended higher by Rs 100 each to Rs 6,850 and Rs 6,550 per quintal, respectively.
Among non-edible oils, linseed oil surged to Rs 9,550 from previous level of Rs 9,375 per quintal on rising demand from paint industries.
Grains: There was a slide in rice basmati prices for yet
another week at the wholesale grains market on muted demand against adequate stocks position on increased supplies from producing belts.

However, wheat and few other bold grains moved up on increased offtake.
Traders said besides sufficient stocks on the back of increased supplies from producing regions, subdued demand from retailers kept pressure on rice basmati prices.
They said, however, better offtake by flour mills helped wheat prices to close higher.
In the national capital, rice basmati common and Pusa-1121 variety eased further to Rs 5,500-5,600 and Rs 4,450-5,300 against last week's close of Rs 5,700-5,800 and Rs 4,600-5,500 per quintal, respectively.
On the other hand, wheat dara (for mills) edged up by Rs 5 to Rs 1,625-1,630 per quintal. Atta chakki delivery followed suit and traded higher by a similar margin to Rs 1,630-1,635 per 90 kg.

Pulses: Supported by increased supplies in the market
after the government took steps to curb soaring prices, select pulses extended losses for yet another week at the wholesale market.
Moreover, fall in demand at prevailing higher levels too weighed on the prices of pulses.
Marketmen said adequate stocks on pick up in supplies in the market after the government's measures to check rising prices kept pressure on select pulse prices.
Besides, a sluggish demand from retailers at current levels weighed on sentiments, they said.
Expressing concern over the rise in prices of pulses, traders' body CAIT said the government should impose stock limit on first importers and allow only domestic process houses to import foodgrains and pulses.

In a bid to control prices of pulses, the Centre said on Wednesday that it has released 10,400 tonnes of tur and urad from its buffer stock for retail sale at subsidised rate of Rs 120 per kg in Delhi, Andhra Pradesh, Telangana and Tamil Nadu.
The Centre has built a buffer of 50,000 tonnes by way of domestic procurement. It is in the processing of procuring one lakh tonnes of chana and masoor in the ongoing rabi season.
In the national capital, urad eased to Rs 10,550-12,650 against last close of Rs 10,700-12,800 per quintal. Its dal chilka local, best quality and dhoya settled lower at Rs 11,150-11,350, Rs 11,250-11,850 and Rs 11,650-12,050 from previous week's levels of Rs 11,300-11,500, Rs 11,400-12,000 and Rs 11,800-12,200 per quintal, respectively.

Moong also dropped by Rs 100 at Rs 6,900-7,600 per quintal. Its dal chilka local, dhoya local and best quality traded lower by a similar margin to Rs 7,400-7,800, Rs 7,800-8,300 and Rs 8,300-8,500 per quintal, respectively.
Malka local and best quality declined by Rs 50 each to Rs 7,050-7,350 and Rs 7,150-7,450 per quintal, respectively.
Moth too fell by Rs 100 to Rs 5,600-6,000 per quintal.
Sugar: Sugar recorded continuous fall in its prices for
the second straight week at the wholesale market in the national capital largely on ample stocks following persistent supplies from mills. The prices fell by up to Rs 60 per quintal.

However, summer season demand from bulk consumers and retailers, capped the losses.
Marketmen attributed persistent fall in sweetener prices to huge ready stocks in the market on pick up in supplies from millers but seasonal demand from bulk consumers limited the losses.
Sugar ready M-30 and S-30 prices dropped by Rs 60 each to finish the week at Rs 3,560-3,630 and Rs 3,550-3,620 per quintal.
Mill delivery M-30 and S-30 prices also eased by Rs 10 each to conclude the week at Rs 3,370-3,430 and Rs 3,360-3,420 per quintal.
In the millgate section, sugar Malakpur suffered the most by falling Rs 30 to close at Rs 3,370, followed by Simbholi, Kinnoni and Khatuli by Rs 20 each to Rs 3,400, Rs 3,430 and Rs 3,400 per quintal.

Jaggery: Firm conditions prevailed at the wholesale gur
(jaggery) market during the week under review with prices rising by Rs 100 per quintal backed up by speculative buying and triggered by negligible arrivals.
However, gur varieties in Muzaffarnagar and Muradnagar generally moved around previous levels during the week in the absence of any worthwhile activity.
Marketmen said pick up in demand from stockists and retailers amid fall in supplies from manufacturing areas due to rising mercury, mainly influenced the gur prices in Delhi and Muzaffarnagar.
In Delhi, gur Dhayya and Shakkar prices spurted by Rs 100 each to settle the week at Rs 3,600-3,700 and Rs 3,700-3,800 per quintal, respectively.

Meanwhile, gur Chakku and pedi prices maintained last week's closing levels on small demand at Rs 3,200-3,300 and Rs 3,400-3,500 per quintal, respectively.
At Muzaffarnagar, prices of gur Khurpa advanced to Rs 2,700-2,750 from last week's closing levels of Rs 2,600-2,700 per quintal.
However, gur chakku and laddoo prices were unaltered at Rs 2,675-3,025 and Rs 2,850-2,950 per quintal on some deals.
Scattered demand from beer and cattle-feed makers also helped gur Raskat prices to remain steady at last week's closing levels of Rs 2,500-2,550 per quintal.
Dry Fruit: A mixed trend prevailed at the wholesale dry
fruit markets in the national capital during the week with select prices declining on slackness in demand amid increased supplies, while a few others remained higher on better offtake by stockists and retailers.

Marketmen said almonds and other dry fruits showed weakness on increased arrivals amid fading demand from bulk consumers.
Almond California turned weak and prices dropped from last week's closing levels of Rs 15,100-15,300 to Rs 14,900-15,000, showing a net fall up to Rs 400 per 40 kg bag.
Its kernel prices also declined by Rs 15 to end the week at Rs 525-535 per kg.
In the cashew kernel segment, cashew no 240 lost Rs 20 to end the week at Rs 700-725 and no 320 fell by Rs 15-20 to Rs 660-675 per kg.
Cashew kernel broken 2 pieces fell by Rs 15 to Rs 575-675 kg and 8 pieces quoted lower at Rs 550-625 per kg.

Kishmish indian yellow slided by Rs 200 to finish the week at Rs 2,800-4,500 per 40 kg, while copra dropped by Rs 500 to yield the week at Rs 10,000-12,500 per quintal.
On the other hand, prices of pistachio hairati and peshawari found fresh support and gained Rs 5 each to settle the week at Rs 1,230-1,330 and Rs 1,380-1,425 per kg.
Kirana: Prices of select spices drifted lower at the
local wholesale kirana market during the week owing to slackened demand against adequate stocks position on increased supplies from producing regions.
However, cardamom small prices rose on the back of pick up in demand.

In the national capital, jeera common and best quality fell by Rs 200 each to Rs 15,900-16,100 and Rs 17,900-18,400 per quintal, respectively.
Turmeric also declined by Rs 200 to Rs 9,500-13,000 per quintal.
Coriander too shed Rs 100 at Rs 7,100-13,600 per quintal.
On the other hand, cardamom small varieties such as chitridar, colour robin, bold and extra-bold edged up to Rs 570-700, Rs 570-580, Rs 600-620 and Rs 700-720 from previous levels of Rs 545-665, Rs 545-555, 580-605 and Rs 685-695 per kg, respectively.
Meanwhile, makhana and netmeg moved in a narrow range in limited deals and settled at previous week's close of Rs 320-470 and Rs 485-495 per kg, respectively.

Black pepper held steady at Rs 720-860 per kg, while red chilli also ended flat at Rs 9,300-18,300 per quintal.