Palmolein oil slides on tepid demand; groundnut oil edges up

In restricted activity, the wholesale oils and oilseeds market ended on a mixed note during the week as prices of palmolein moved down owing to slackened demand while groundnut oil edged up on scattered demand.
Linseed oil, in the non-edible section, slipped due to reduced offtake by paint industries.
Markets remained closed on Friday on account of 'Mahashivratri'.
Marketmen said muted demand from vanaspati millers and retailers against ample stocks position kept pressure on palmolein oil prices but mild retailers demand helped groundnut oil to end in positive zone.
In the national capital, palmolein (RBD) and palmolein (Kandla) oils fell by Rs 150 each to Rs 6,000 and Rs 6,050 per quintal, respectively.

However, groundnut mill delivery (Gujarat) oil found some buying support from retailers and finished higher by Rs 100 to Rs 9,800 per quintal.

On the other hand, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved in a narrow range in limited deals and pegged at last week's levels of Rs 6,900 and Rs 6,600 per quintal, respectively.
Mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils also followed suit and ended flat Rs 8,400 and Rs 6,750 per quintal, respectively.
Grains: In a holiday shortened week, wheat prices drifted
lower at the wholesale grains market on adequate stocks position on pick up in arrivals from producing regions against reduced offtake by flour mills.

Barley also moved down owing to lack of buying support from consuming industries.
Rice basmati, after moving both ways on alternate bouts of buying and selling, settled around previous levels.
Traders said, besides ample stocks position following improved supplies from producing belts, reduced offtake by flour mills mainly led to the decline in wheat prices.
Expectations of bumper crop this year also weighed on wheat prices, they said.
Volume of business remained restricted as the market remained shut on Friday on account of 'Mahashivratri'.
In the national capital, wheat (desi) and wheat dara (for mills) slipped to Rs 2,600-2,900 and Rs 1,880-1,890 per quintal, respectively from previous levels of Rs 2,660-2,960 and Rs 1,900-1,910 per quintal.

Atta chakki delivery followed suit and traded lower 1,890-1,920 from previous close of Rs 1,910-1,940 per 90 kg.
Maida also eased to Rs 1,070-1,080 against last close of Rs 1,110-1,120 per 50 kg in line with wheat trend.
Other bold grains like barley moved down by Rs 50 to Rs 1,750-1,770 per quintal.
On the other hand, rice basmati common and Pusa-1121 variety after moving between gain and losses, finally concluded at last week's levels of Rs 7,200-7,300 and Rs 5,700-7,100 per quintal.