Edible oil prices declined on the wholesale market this week largely due to slackness in demand from millers and retailers amid weakening global trend. Castor oil in the non-edible section also showed some weakness owing to reduced offtake by industrial units and other consuming industries.
Palm oil fell in global markets, joining a slump in commodities, on deepening concerns that a slowing global economy may reduce demand for the tropical commodity used in food and fuel. Meanwhile, palm oil futures dropped 0.4% this week on the Malaysia Derivatives Exchange.
Mustard expeller oil (Dadri) shed Rs 20 to Rs 5,980, while sesame and cottonseed mill delivery (Haryana) oils declined by Rs 50 and Rs 30 to Rs 6,200 and Rs 5,520 per quintal respectively.
Taking cues from overseas markets, palmolein (rbd) and palmolein degum (Kandla) oils softened by Rs 25 each to Rs 5,850 and Rs 5,550 and crude palm oil (ex-kandla) traded lower by the same margin to Rs 5,200 per quintal respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils traded in negative zone with a loss of Rs 30 each to Rs 6,470 and Rs 5,920 per quintal respectively. In the non-edible section, castor oil dropped by Rs 50 to Rs 8,350-8,450 per quintal.
The wholesale market remained closed on Monday on account of the 'Independence Day'.
Grains: Prices of wheat dara and its products rose on the wholesale market during this week on increased offtake by flour mills to meet the ongoing festive season demand. However, basmati rice and bajra softened on sluggish demand against adequate stocks.
Traders said increased offtake by flour mills amid the ongoing festive season led to rise in wheat dara and its product prices. Wheat dara (for mills) rose by Rs 10 to Rs 1,175-1,180 per quintal, while atta chakki delivery traded higher by the same margin to Rs 1,185-1,190 per 90 kg.
Maida traded higher at Rs 750-780 from Rs 640-780 and sooji moved up by Rs 15 to Rs 830-845 per 50 kg on festive demand. In the rice section, basmati common and Pusa-1121 variety eased to Rs 5,200-5,300 and Rs 4,150-4,800 against last close of Rs 5,300-5,400 and Rs 4,150-4,800 per quintal respectively.
Bajra moved down to Rs 850-860 against last close of Rs 920-930 per quintal but maize strengthened on pick up in demand and shot up by Rs 40 to Rs 1,190-1,200 per quintal.
Pulses: Kabli gram and masoor rose on the wholesale market this week on pick up in demand, driven by ongoing festive season. In the national capital, kabli gram gained the most adding Rs 200 to Rs 5500-7900 per quintal on rising demand.
Masoor small and bold also moved up by Rs 20 each to Rs 2,670-2,970 and Rs 2,820-3,070, while its dal local and best quality traded higher by Rs 50 and Rs 20 to Rs 3,450-3,550 and Rs 3,620-3,920 per quintal respectively. On the other hand, lobia lacked necessary follow up and lost Rs 200 to Rs 4,700-5,200 per quintal.
Urad and its dal dhoya which remained steady during the major part of week, met with resistance at higher levels and declined by Rs 50 and Rs 150 to Rs 3,750-4,150 and Rs 4,900-5,000 per quintal respectively.
Arhar and its dal variety moved down by Rs 100 each to Rs 2,900-3,400 and Rs 4,300-4,400 and moth shed Rs 50 to Rs 2,100-2,500 per quintal respectively.
Sugar: Sugar prices fell marginally on the wholesale market this week following increased arrivals against restricted buying.
Sugar ready medium and second grade prices commenced on a steady note at Rs 2,950-3,075 and Rs 2,925-3,040 per quintal on some support. Subsequently, it met with resistance on increased arrivals and fell by Rs 15 to Rs 2,950-3,060 and Rs 2,925-3,040 per quintal.
Similarly, mill delivery medium and second grade prices commenced quiet at Rs 2,800-2,950 and Rs 2,790-2,930 dropped slightly to settle at Rs 2,800-2,940 and Rs 2,790-2,920, showing a loss of Rs 10 per quintal.
Among millgate excluding duty section, sugar kinnoni, titabi, dorala and budhana all eased by Rs 10 each to Rs 2940, Rs 2860, 2850 and Rs 2760 per quintal respectively.
Jaggery: Prices of gur dhayya dropped by Rs 100 per quintal on the wholesale market here this week due to ample supply. Other gur varieties ruled flat throughout the week on some support. In Delhi, gur dhayya prices fell from Rs 3,300-3,400 to settle to Rs 3,200-3,300 per quintal.
Meanwhile, gur chakku, pedi and shakkar prices maintained last week's closing levels of Rs 2,800-2,900, Rs 3,000-3,100 and Rs 3,200-3,300 per quintal. In Muzaffarnagar, gur chakku moved down from Rs 2,450-2,525 to conclude at Rs 2,425-2,500, showing a loss of Rs 25 per quintal.
However, gur raskat prices held steady at Rs 2,350-2,450 per quintal on sporadic beer making industries demand. At Muradnagar, gur pedi also ended without any changes at Rs 2,750-2,800 per quintal, while gur dhayya prices remain unquoted due to paucity of stocks.
Dry fruits: Select dry fruit prices declined on sluggish demand at prevailing higher levels against adequate stocks position this week. Lower advices from producing regions also dampened the trading sentiment, traders said.
Almond (California) declined by Rs 100 to Rs 10,800 per 40 kg, while its kernel shed Rs 3 to Rs 377-387 per kg. Copra fell by Rs 100 to Rs 7,700-7,900 per quintal and copra powder by Rs 200 to Rs 2,900-3,600 per 25 kg.
Pitsachio Irani, Hairati, Peshwari and Dodi were traded lower at Rs 680-730, Rs 950-1060, Rs 1,160-1,260 and Rs 500-580 against last close of Rs 700-750, Rs 1,000-1,110, Rs 1,210-1,310 and Rs 540-590 per kg respectively.
Kirana: Select spices rose on the wholesale market this week on buying by stockists and retailers to meet the ongoing festive season demand against restricted arrivals.
In the national capital, black pepper common, turmeric, jeera common and best quality were up by Rs 100 each to Rs 29,600-30,100, Rs 7900-12,100, Rs 15,600-15,900 and Rs 17,900-18,100 per quintal respectively.
Makhana shot up by Rs 30 to Rs 300-330 per kg on paucity of stocks, while cardamom small varieties such as chitridar, colour robin,bold and extra bold traded higher by Rs 5 each to Rs 565-595, Rs 595-625, Rs 585-635 and Rs 855-885 per kg respectively on festive demand.
However, watermelon kernel lacked necessary follow up support and shed Rs 5 to Rs 145 per kg.
Bullion: Gold prices rose to a new high of Rs 28,230 per 10 gram here this week on buying by stockists and investors, driven by a record rally in overseas markets. Silver also spurted by Rs 7,200 to Rs 66,300 per kg on industrial demand following a firm global trend.
Trading sentiment remained bullish after gold rose to a record above $1,880 an ounce in New York, on concern that the global economy is slowing. In addition, scattered local buying for the coming marriage season and fears of further hike in gold prices in coming days also boosted the trading sentiment.
In the national capital, gold of 99.9 and 99.5% purity recorded significant rise of Rs 2,130 and Rs 2,100 to a fresh peak levels of Rs 28,230 and Rs 28,080 per ten grams respectively. Sovereign followed suit and surged by Rs 1,400 to Rs 22,400 per piece of eight gram.
Silver ready and weekly-based delivery spurted by Rs 7,200 and Rs 8,135 to Rs 66,300 and Rs 8,135 per kg respectively. Silver coins also jumped up by Rs 7,500 to Rs 73,500 for buying and Rs 74,500 for selling of 100 pieces.
