Mustard, groundnut oils up on retailers demand

Prices of mustard and groundnut oils ended higher at the wholesale oils and oilseeds market during the week on scattered demand from vanaspati units as well as retailers.
However, palmolein oil remained weak on adequate stocks.
On the other hand, non-edible oils ended mixed during the period.
Meanwhile, wholesale commodities markets, including grains, pulses and sugar in the capital were closed on Friday as a mark of protest against five per cent GST on branded grains and sugar.
Activity remained restricted as traders kept their positions at a low ebb considering the Goods and Services Tax (GST) - India's biggest tax reform since Independence.

Traders said mild demand from retailers helped mustard and groundnut oil prices to close higher.

In the national capital, mustard expeller (Dadri) and groundnut mill delivery (Gujarat) oil edged up by Rs 50 and Rs 100 to Rs 7,950 and Rs 9,400 per quintal, respectively.
On the other hand, palmolein (RBD) and palmolein (Kandla) oils shed Rs 50 each to Rs 5,350 and Rs 5,400 per quintal, respectively.
However, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved in a narrow range in limited deals and settled at the previous levels of Rs 6,500 and Rs 6,100 per quintal, respectively.

In the non-edible section, castor oil traded higher by Rs 50 to Rs 8,950-9,050 per quintal on increased demand from consuming industries.
Grains: Prices of rice basmati and wheat fell at the
wholesale grains market during the week due to reduced offtake against adequate stocks position.
A few other bold grains also eased amid subdued demand from consuming industries.
Traders said ample stocks position against fall in demand from stockists and retailers mainly pulled down rice basmati prices.
Reduced offtake by flour mills put pressure on wheat prices, they said.
In the national capital, rice basmati common and Pusa- 1121 variety eased to Rs 6,400-6,700 and R 5,400-5,500 against last close of Rs 6,700-7,000 and Rs 5,700-5,800 per quintal respectively.

Wheat dara (for mills) also slipped by Rs 15 to Rs 1,725-1,730 per quintal. Atta chakki delivery followed suit and traded lower by similar margin to Rs 1,730-1,735 per 90 kg.
Other bold grains, bajra fell by Rs 100 to Rs 1,100- 1,110 per quintal. Barley and maize also declined by Rs 50 and Rs 15 to Rs 1,400-1,420 and Rs 1,275-1,285 per quintal respectively.