Select edible oils remain weak on muted demand

Select edible oil prices eased further at the wholesale oil and oilseeds market during the week following sluggish demand from retailers and vanaspati millers.
Castor oil in the non-edible section, also ended lower on reduced offtake by consuming industries.
Trading activity was restricted as the market was shut on Tuesday for the Republic Day.
Marketmen said besides easing demand from retailers and vanaspati millers, adequate stocks position on higher supplies from producing regions mainly kept pressure on select edible oil prices.
Expectations of higher output of mustard also dampened the sentiment, they said.
Meanwhile, mustard production in the country may rise by 10 per cent to 5.5 million tonnes this year on account of favorable weather conditions.

The cold weather conditions have picked up in the northern and central India, which is good for standing mustard crop.

In the national capital, mustard expeller (Dadri) oil fell further by Rs 100 to Rs 8,400 per quintal on subdued demand from local parties amid expectations of higher production.
Mustard pakki and kachi ghani oils however, held steady at Rs 1,350-1,400 and Rs 1,400-1,500 per tin in scattered deals.
Palmolein (RBD) and Palmolein (Kandla) oils also weakened by Rs 50 each to Rs 5,150 and Rs 5,100, while crude palm oil (ex-kandla) held steady at Rs 4,050 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too traded lower by Rs 50 each to Rs 6,350 and Rs 6,050 per quintal, respectively.
Grains: Rice basmati and wheat prices drifted at the
wholesale grains market during the week owing to slackened demand against adequate stocks position.
However, a few other bold grains found fresh buying support from consuming industries and ended with gains.
Traders said muted demand from retailers against sufficient stocks on the back of higher supplies from producing regions mainly led to the fall in the prices of rice basmati and wheat.
Reports that cold waves in Northern and Central India will help the standing wheat crop, also influenced wheat prices, they said.

They said, however, pick up in demand consuming industries helped a few other bold grain prices to rise.
In the national capital, rice basmati Pusa-1121 variety slipped to Rs 5,200-5,300 and Rs 4,000-4,900 against last week's levels of Rs 5,300-5,400 and Rs 4,250-5,100 per quintal respectively.
Wheat dara (for mills) also receded by Rs 5 to Rs 1,700-1,705 per quintal. Atta flour mills followed suit and enquired lower by a similar margin to Rs 1,705-1,715 per 90 kg.
On the other hand, other bold grains like jowar yellow and white moved up by Rs 50 each to Rs 1,700-1,800 and Rs 3,200-3,300 per quintal, respectively.

Maize and bajra also edged up to Rs 10 to Rs 1,640-1,645 per quintal.