Select edible oils slide on muted demand, adequate stocks

In a holiday-shortened week, select edible oil prices drifted lower at the wholesale oil and oilseeds market owing to slackened demand from retailers against ample stocks position on higher supplies.
Castor oil in the non-edible section, also eased on reduced offtake by consuming industries.
Markets remained closed on Thursday on account of Republic Day.
Traders said besides easing demand from retailers, adequate stocks position on increased arrivals from producing regions mainly kept pressure on select edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) oil fell by Rs 100 to Rs 10,100 per quintal.
Mustard expeller (Dadri) oil shed Rs 50 to Rs 8,450 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also declined by Rs 50 each to Rs 6,900 and Rs 6,600 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils, which remained steady for the major part of week met with resistance at the fag-end and finished lower by Rs 50 each to Rs 6,250 and Rs 6,300 per quintal respectively.
Grains: In restricted activity, prices of rice basmati
and wheat firmed up at the wholesale grains market following increased offtake by stockists and retailers to meet demand against tight stocks position on fall in supplies from producing regions.

Bajra and maize prices also moved up on pick up in demand from consuming industries.
Trading activity remained restricted as market was closed on Thursday for the Republic Day.
Marketmen said pick up in domestic as well as exports demand amid restricted supplies from producing regions mainly pushed up rice basmati prices.
They said increased offtake by flour mills against fall in arrivals from producing belts kept wheat prices higher.
In the national capital, rice basmati common and Pusa-1121 variety climbed to Rs 7,000-7,100 and Rs 5,700-6,900 as compared to last week's close of Rs 6,400-6,500 and Rs 5,100-6,300 per quintal, respectively.

Wheat MP (desi) and wheat dara (for mills) also edged up to Rs 2,800-3,100 and Rs 2,060-2,070 from previous levels of Rs 2,750-3,050 and Rs 2,000-2,010 per quintal, respectively.
Atta chakki delivery followed suit and traded higher at Rs 2,080-2,110 from previous level of Rs 2,020-2,050 per 90 kg.
Other bold grains like bajra and maize too settled higher at Rs 1,460-1,500 and Rs 1,610-1,620 from previous levels of Rs 1,430-1,470 and Rs 1,600-1,610 per quintal, respectively.