Select edible oils remain up on increased buying

Select edible oils continued their rising streak for yet another week at the wholesale oil and oilseeds market following increased buying by vanaspati millers and retailers coupled with restricted supplies from producing belts.
Castor oil in the non-edible section, also showed some strength due to increased offtake from consuming industries.
Marketmen said persistent buying by vanaspati millers to meet rising demand from retailers amid restricted supplies from producing regions mainly kept select edible oil prices higher.
In the national capital, groundnut mill delivery (Gujarat) oil surged further by Rs 300 to Rs 9,800 per quintal, while groundnut solvent refined edged up by Rs 10 to Rs 1,700-1,800 per tin.

Palmolein (RBD) and palmolein (Kandla) oils also shot up by Rs 150 each to Rs 5,850 and Rs 5,800, while crude palm oil (ex-kandla) traded higher by Rs 50 to Rs 4,280 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and advanced by Rs 100 each to Rs 6,750 and Rs 6,450 per quintal, respectively.

Sesame mill delivery and cottonseed mill delivery (Haryana) oils which remained steady for the major part of week, found buying support at the fag-end and ended higher by Rs 100 each to Rs 6,900 and Rs 5,900 per quintal, respectively.

On the other hand, mustard expeller (Dadri) oil moved in a narrow range in scattered deals and settled at previous week's level of Rs 8,100 per quintal.
Grains: Wheat extended losses for the second straight
week at the wholesale grains market on adequate stocks position following arrivals of new crop from some growing regions against reduced offtake by flour mills.
However, rice basmati and few other bold grains finished higher on pick up in stockists buying against restricted supplies from producing belts.
Traders said ample stocks position following arrivals of new crop in the market against reduced offtake by flour mills mainly kept pressure on wheat prices.

However, reports of damage to the crop in some parts of Punjab as well as Haryana due to recent unseasonal rain and hailstorm restricted the fall, they said.
Meanwhile, the government extended 25 per cent import duty on wheat by another three month, till June, to curb imports as domestic production is estimated to rise by over 8 per cent this year.
Wheat production is projected to increase by 8.42 per cent to 93.82 million tonnes in 2015-16 crop year, as against 86.53 MT in the previous year, despite deficient monsoon during last year.
In the national capital, wheat dara (for mills) eased to Rs 1,645-1,650 per quintal against last close of Rs 1,700-1,705. Atta chakki delivery followed suit and traded lower at Rs 1,650-1,655 from previous week's close of Rs 1,705-1,710 per 90 kg.

Atta flour mills and maida shed Rs 10 each at Rs 855-865 and Rs 940-950, while sooji traded lower at Rs 1,010-1,025 from Rs 1,020-1,030 per 50 kg, respectively in line with wheat trend.
On the other hand, rice basmati common and Pusa-1121 variety found fresh buying support from stockists against restricted supplies from producing belts and finished higher at Rs 5,500-5,600 and Rs 4,250-5,200 against last week's level of Rs 5,300-5,400 and Rs 4,100-5,100 per quintal, respectively.
Pulses: Firm conditions prevailed at the wholesale market
during the week as prices of arhar and other pulses rebounded on emergence of stockists buying on the back of pick up in demand from retailers against tight stocks position.

Marketmen said stockists buying, driven by upsurge in demand from retailers amid restricted supplies from growing regions led to the rise in arhar and other pulses prices.
In the national capital, arhar and its dal dara variety gained Rs 300 and Rs 200 to Rs 8,200 and Rs 11,300-13,000 per quintal, respectively.
Urad and its dal chilka local edged up by Rs 100 each to Rs 9,300-11,600 and Rs 10,100-10,300 per quintal, respectively.
Its dal best quality and dhoya followed suit and enquired higher by a similar margin to Rs 10,200-10,800 and Rs 10,600-11,000 per quintal, respectively.
Masoor small and bold went up by Rs 200 each to Rs 5,200-5,600 and Rs 5,350-5,650 per quintal. Its dal local and best quality traded higher by the same margin to Rs 6,000-6,500 and Rs 6,100-6,600 per quintal, respectively.

In line with overall trend, gram, gram dal local and best quality finished higher at Rs 4,750-5,250, Rs 4,970-5,270 and Rs 5,300-5,500 against last close of Rs 4,600-5,100, Rs 4,820-5,120 and Rs 5,150-5,350 per quintal, respectively.
Besin Shaktibhog and Rajdhani quoted higher by Rs 2,200 instead of Rs 2,180 per 35 kg bag, respectively.
However, moong and its dal chilka local moved in a narrow range in scattered deals and pegged at last levels of Rs 6,950-7,500 and Rs 7,350-7,750 per quintal, respectively.
Its dal dhoya local and best quality followed suit and held steady at Rs 7,750-8,250 and Rs 8,250-8,450 per quintal, respectively.

Rajmah chitrah and moth also depicted a steady trend at Rs 5,100-6,400 and Rs 5,500-5,900 per quintal, respectively.