Select edible oils up on strong demand

Select edible oil prices moved up at the wholesale oil and oilseeds market during the week under review on increased buying by vanaspati millers, driven by rising demand from retailers against tight supplies.
Castor oil in the non-edible section, also showed some strength on increased offtake by consuming industries.
Traders said, pick-up in offtake by vanaspati millers to meet rising demand from retailers against tight stocks position on fall in supplies from producing regions, mainly led to rise in select edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 200 to Rs 10,100 per quintal, while groundnut solvent refined traded higher by Rs 50 to Rs 1,800-1,900 per tin.

Palmolein (RBD) and palmolein (Kandla) oils also strengthened by Rs 100 each to Rs 6,150 and Rs 6,200 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and edged up by Rs 50 each to Rs 6,850 and Rs 6,550 per quintal.

However, sesame mill delivery and cottonseed mill delivery (Haryana) oils moved in a narrow range on little doing and settled at the previous levels of Rs 8,300 and Rs 6,800 per quintal, respectively.
Grains: Weak conditions prevailed at the wholesale grains
market during the week as prices of wheat and rice basmati drifted lower on reduced offtake against adequate stocks position.

A few other bold grains also ended lower on easing demand from consuming industries.
Traders said, ample stocks position on improved supplies against reduced offtake by flour mills, mainly kept wheat prices down.
Weak trend in wheat prices at futures trade also weighed on prices, they said.
Slackened demand from retailers helped rice basmati prices to trade lower, they added.
In the national capital, wheat dara (for mills) and wheat (Desi) slipped to 1,940-1,950 and Rs 2,650-2,950 from previous week's levels of Rs 2,000-2,040 and Rs 2,700-3,050 per quintal.
Atta chakki delivery followed suit and eased to Rs 1,985-2,000 against last close of Rs 2,060-2,070 per 90 kg.

Atta flour mills, maida and sooji also settled lower at Rs 1,100-1,115, Rs 1,140-1,160 and Rs 1,225-1,250 as compared to last levels of Rs 1,120-1,125, Rs 1,180-1,190 and Rs 1,270-1,275 per 50 kg respectively in line with a wheat trend.
In the rice section, rice basmati Pusa-1121 and rice basmati common dropped by Rs 300 and Rs 100 to Rs 4,800-6,000 and Rs 6,400-6,500 per quintal respectively.
Other bold grains like bajra and maize too finished lower at Rs 1,425-1,440 and Rs 1,550-1,570 against last close of Rs 1,450-1,455 and Rs 1,580-1,590 per quintal respectively.