Select edible oils edge up on retailers demand

In restricted activity prices of select edible oil recovered at the wholesale oil and oilseeds market during the week on scattered demand from retailers against tight supplies.
However, groundnut oil remained under selling pressure and finished lower.
In the non-edible section, castor oil moved up on increased offtake by consuming industries.
Market remained closed on Monday on account of "Guru Nanak Jayanti".
Traders said mild demand from retailers against restricted supplies from producing regions mainly helped select edible oil prices to close higher.
Volume of business fell considerably as stockists and retailers kept their activity restricted due to tight fund positions after the government in a surprise move, banned 500 and 1,000 rupee notes in a bid to flush out black money, they said.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also went up by Rs 100 each to Rs 6,700 and Rs 6,400 per quintal, respectively.

Mustard expeller (Dadri) oil also moved up by Rs 50 to Rs 8,700 per quintal.
However, groundnut mill delivery oil lost Rs 400 at Rs 10,000 per quintal.
On the other hand, palmolein (rbd) and palmolein (Kandla) oils moved in a narrow range in limited deals and settled at previous levels of Rs 5,700 and Rs 5,750 per quintal, respectively.
Grains: Firm conditions prevailed at the wholesale grains
market during the week as prices of wheat and other grains rallied on increased offtake against tight supplies from producing regions.

Traders said increased offtake by flour mills to meet rising demand, driven by ongoing wedding season amid fall in arrivals from producing belts and a firm trend at futures market mainly pushed up the wheat prices.
Uptick in demand from retailers led to the rise in rice basmati prices, they said.
Meanwhile, the government increased the minimum support price (MSP) of wheat by Rs 100 to Rs 1,625 a quintal to boost output of rabi crops and check prices.
In the national capital, wheat MP (desi) and wheat dara (for mills) jumped up to Rs 2,800-3,335 and Rs 2,320-2,325 from previous week's levels of Rs 2,590-3,125 and Rs 2,100-2,105 per quintal respectively. Atta chakki delivery followed suit and finished higher at Rs 2,330-2,335 from Rs 2,110-2,115 per 90 kg.

Atta flour mills, maida and sooji also settled higher at Rs 1,340-1,350, Rs 1,430-1,440 and Rs 1,480-1,490 as compared to last close of Rs 1,150-1,160, Rs 1,230-1,240 and Rs 1,300-1,320 per 50 kg in line with a firm trend in wheat.
In the rice section, rice basmati common and Pusa-1121 variety firmed up to Rs 5,800-5,900 and Rs 4,700-5,900 against last close of Rs 5,600-5,700 and Rs 4,500-5,500 per quintal.
Other bold grains like, bajra and maize too finished higher at Rs 1,540-1,545 and Rs 1,680-1,690 from previous levels of Rs 1,450-1,455 and Rs 1,560-1,570 per quintal, respectively on increased offtake by consuming industries.

Sugar: Sugar prices exhibited a firm tendency at the
wholesale market in the national capital during the week under review following less arrivals from mills in view of cash crunch in the market, powered by higher offtake by stockists and bulk consumers, registering net gains up to Rs 320 per quintal.
Marketmen said, after the government banned Rs 500 and Rs 1,000 notes last week, supplies and demand were interrupted due to an insufficient inflow of cash in the market, which particularly attributed the sharp upsurge in sweetener prices.
Sugar ready M-30 and S-30 prices jumped up from last week's close of Rs 3,800-3,870 and Rs 3,790-3,860 to settle the week at Rs 3,950-4,200 and Rs 3,940-4,190, showing sharp gains of up to Rs 320 per quintal.

Mill delivery M-30 and S-30 prices also marched ahead from last week's closing levels of Rs 3,550-3,690 and Rs 3,540-3,680 to finish the week at Rs 3,550-3,740 and Rs 3,540-3,730, revealing a net profit of Rs 50 per quintal.
Jaggery: The wholesale gur (jaggery) market revealed a
firm trend in the national capital during the week under review following thin arrivals from manufacturing belts against better offtake leading to a rise of Rs 100 per quintal.
A similar trend was seen in Muzaffarnagar due to the tight cash position in the market, which added up to Rs 100 per quintal.

On the other hand, Muradnagar gur markets showed a fall of Rs 50 per quintal due to lack of buying support.
Marketmen said deficient cash flow in the markets due to the demonetisation of Rs 500 and Rs 1,000 notes by the government mainly hit the supply line, which led to the rise in jaggery prices in Delhi and Muzaffarnagar.
In Delhi, gur Chakku and Shakkar prices advanced by Rs 100 each to finish the week at Rs 3,100-3,200 and Rs 3,600-3,700 per quintal.
However, gur pedi and dhayya prices enquired steady at Rs 3,200-3,300 and Rs 3,400-3,500 per quintal.

At Muzaffarnagar, gur chakku prices hardened by Rs 100 to end the week at Rs 2,700-2,900 per quintal.
Gur khurpa prices also rose by Rs 50 to conclude the week at Rs 2,600-2,650, while laddoo prices remained flat throughout the week on some support at Rs 2,900-3,000 per quintal.
Prices of gur Raskat too have not shown any movements and ended same on last week's closing levels of Rs 2,500-2,600 due to sporadic demand from beer makers.
Dryfruits: In limited deals, prices of select dryfruits
drifted lower at the wholesale market in the national capital during the week as demand from retailers and stockists receded amid tight fund positions.

Traders attributed the fall in dry fruits prices to subdued demand from bulk consumers due to cash crunch in the market against adequate stocks.
Sentiments also took a hit after the government in a surprise move, banned Rs 500 and Rs 1,000 currency notes in a bid to curb black money, creating tight liquidity in the market, forcing traders to keep their activity almost negligible.
Almond California prices fell by Rs 100 to end the week at Rs 15,700-15,900 per 40 kg, while its kernel traded lower by Rs 5 at Rs 570-590 per kg.
Almond gurbani and girdhi prices declined Rs 100 each to conclude at Rs 11,900-12,100 and 5,300-5,500 per 40 kg, respectively.

Cashew kernel (No 180, 210, 240 and 230) prices were down by Rs 10 each per kg to finish at Rs 1,060-1,080, Rs 950-970, Rs 850-870 and Rs 770-790 and its broken (2, 4 and 8 pieces) also declined Rs 5 each to conclude at Rs 690-750, Rs 665-730 and Rs 575-645 per kg, respectively.
Copra fell Rs 100 to finish at Rs 8,200-10,700 per quintal.
Kishmish Indian yellow and green traded lower at Rs 2,700-4,400 and Rs 4,900-10,900 per 40 kg bag.
Pistachio hairati and peshawari eased up to Rs 5 to finish at Rs 1,195-1,305 and Rs 1,405-1,510 per kg, respectively.

Kirana: Wholesale prices of select spices fell during the
week on selling by stockists against slowdown in buying activity at prevailing levels coupled with paucity of funds and closed with widespread losses.
Volume of business remained at a low ebb following negligible enquiries from neighbouring area markets.
Trading sentiment turned weak due to tight fund positions after the government in a surprise move, banned Rs 500 and Rs 1,000 currency notes in a bid to curb black money.
Black pepper prices declined Rs 10 to conclude at Rs 690-810 per kg.
Cardamom brown jhundiwali and kanchicut fell by Rs 10 to finish at Rs 910-930 and Rs 960-1,130 per kg, respectively.

Coriander prices fell by Rs 200 to conclude at Rs 7,200-13,200 per quintal.
Dry ginger and kalaunji slipped to Rs 14,000-20,000 and Rs 18,500-19,000 from last week's close of Rs 14,500-20,500 and Rs 19,000-19,500 per quintal, respectively.
Mace-yellow and nutmeg prices drifted lower by Rs 20 each to close at Rs 1,030-1,040 and Rs 580-590 per kg, respectively.
Poppyseed (Turkey, U.P and MP-RAJ) prices declined Rs 5 each to close at Rs 340-350, Rs 345-355 and Rs 370-395 per kg, respectively.
Red chilli and turmeric prices quoted lower at Rs 8,400-17,400 and Rs 8,300-11,800 per quintal, respectively.
Pulses: In a restricted activity, select pulses led by arhar firmed up at the wholesale market during the week on scattered demand from retailers.

The market remained closed on Monday on account of "Guru Nanak Jayanti".
Traders said mild demand from retailers amid tight supplies from producing regions mainly led to rise in ahar and a few other pulses prices.
They said however, volume of business remained thin as stockists and retailers kept their activity restricted due to tight liquidity after the government on November 8 announced banning of Rs 500 and Rs 1,000 currency notes in a bid to curb black money.
Meanwhile, the government increased the minimum support price (MSP) of pulses by up to Rs 550 per quintal to boost output of these rabi crops and check prices.

The government is looking to achieve its buffer stock target of 2 million tonnes of pulses by June next year, which will be used in case of price rise.
In the national capital, arhar and its dal dara variety surged by Rs 300 each to Rs 6,300 and Rs 8,200-10,000 per quintal respectively.
Rajmah chitra also edged up to Rs 6,500-9,500 from previous level of Rs 6,500-8,500 per quintal.
Urad and its dal chilka rose by Rs 200 each to Rs 7,200-8,200 and Rs 7,500-7,600 per quintal. Its dal best quality and dhoya followed suit and traded higher by a similar margin to Rs 7,600-8,100 and Rs 8,000-8,300 per quintal.

Moong and its dal chilka went up by Rs 100 each to Rs 5,200-5,700 and Rs 5,700-5,900 per quintal respectively. Its dal dhoya local and best quality enquired higher by the same margin to Rs 6,300-6,800 and Rs 6,800-7,000 per quintal.