Select edible oils rise on millers' buying

Select edible oil prices firmed up at the wholesale oils and oilseeds market during the week on increased buying by vanaspati millers as well as retailers against restricted supplies from producing belts.
However, groundnut oil ended lower due to easing demand from retailers against adequate stocks position.
Linseed oil in the non-edible section, also edged up on mild demand from consuming industries.
Marketmen said increased buying by vanaspati millers coupled with restricted supplies from producing regions and a firm global trend mainly led to rise in select edible oil prices.
Globally, palm oil prices were up 6.2 per cent this month so far after surging 9.1 per cent in August at Kuala Lumpur.

Meanwhile, the government cut import duty on crude and refined palm oil to 7.5 per cent and 15 per cent, respectively.

In the national capital, mustard expeller (Dadri) oil climbed by Rs 200 to Rs 8,900 per quintal.
Palmolein (RBD) and palmolein (Kandla) oils also shot up by Rs 150 each to Rs 6,300 and Rs 6,350 per quintal, respectively on positive global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and traded higher by Rs 50 each to Rs 6,900 and Rs 6,600 per quintal, respectively.
On the other hand, groundnut mill delivery (Gujarat) oil met with resistance at higher levels and eased by Rs 200 to Rs 13,000 per quintal.

Grains: Firm conditions emerged at the wholesale grains
market during the week as prices of wheat and a few other bold grains rose on increased offtake against tight stocks position.
However, non-basmati rice finished lower as demand eased at prevailing levels.
Traders said increased offtake by flour mills led to rise in wheat prices.
Meanwhile, the government on Friday announced cut on import duty on wheat to 10 per cent from 25 per cent.
They said pick up in demand from consuming industries against tight stocks position on fall in supplies from producing regions helped bajra and a few other bold grain prices to close higher.

In the national capital, wheat dara (for mills) moved up by Rs 10 to Rs 1,810-1,815 per quintal. Atta chakki delivery followed suit and traded higher by a similar margin to Rs 1,815-1,820 per 90 kg.
Other bold grains like bajra and barley also surged to Rs 1,345-1,350 and Rs 1,560-1,565 against last week's close of Rs 1,260-1,270 and Rs 1,530-1,535 per quintal, respectively on increased demand from consuming industries.
Maize too edged up by Rs 10 to Rs 1,510-1,520 per quintal.
On the other hand, non-basmati rice permal wand, sela and IR-8 settled lower at Rs 2,125-2,200, Rs 2,700-2,800 and Rs 1,800-1,810 as compared to previous week's levels of Rs 2,150-2,225, Rs 2,800-2,900 and Rs 1,840-1,850 per quintal, respectively.