Weekly Market Review

GRAINS: In mixed pattern of trading, wheat and non-basmati rice prices rose on the wholesale grains market during the past week on rising festival demand, while bajra, jowar and maize were down on increased arrivals against reduced industrial offtake. 

Buying activity in wheat dara and its products picked up as festive demand rising amid restricted arrivals, traders said.

Wheat dara (for mills) rose by Rs 20 to Rs 1,235-1,240 per quintal. Atta chakki delivery followed suit and traded higher by Rs 15 to Rs 1,240-1,245 per 90 kg and flour mills rose by Rs 30 to Rs 660-680 per 50 kg.

 

Maida and sooji moved up by Rs 10 and Rs 30 to Rs 760-790 and Rs 870-890 per 50 kg, respectively in line with a firm trend in wheat prices.

In the rice section, permal raw, wand, sela and IR-8 were also traded higher by Rs 10 each to Rs 2,005-2,055, Rs 2,080-2,230, Rs 2,305-2,355 and Rs 1,835-1,860 per quintal. On the other hand, bajra suffered major setback of Rs 160 to Rs 850-860 per quintal on increased arrivals.

Jowar yellow and white fell by Rs 70 and Rs 150 to Rs 1,100-1,200 and Rs 2,100-2,150 per quintal. Maize too traded in negative zone with a loss of Rs 30 to Rs 1,070-1,080 per quintal.

PULSES: Select pulses firmed up in the national capital during the past week on emergence of stockists and retailers buying to meet the coming festival and marriage season demand against tight supply.      However, urad and its dal lacked necessary buying support and declined. 

Marketmen said fresh buying by stockists and retailers to meet the upcoming festival and marriage season demand amid restricted arrivals in the market mainly led to rise in select wholesale pulses.

In the national capital, kabli gram small variety gained the most by surging Rs 350 to Rs 4,550-5,750 per quintal.

Rajma chitra (Pune) and (China) also seen in retailers demand and rose by Rs 250 each to settle at Rs 3,700-4,300 and Rs 3,800-4,300, while its red variety traded higher by Rs 150 to Rs 3,600-3,700 per quintal.

Gram, gram dal local and best quality were enquired higher by Rs 50 each to 2,300-2,325, Rs 2,550-2,575 and Rs 2,675-2,775 per quintal.

On the other hand, urad and its dal chilka local fell by Rs 180 and Rs 220 to Rs 5,050-5,600 and Rs 5,650-6,050, while its best quality and dhoya lost Rs 200 each to Rs 6,250-6,550 and Rs 6,400-6,500 per quintal.

DRY FRUITS: In mixed pattern of trade, prices of select dry fruits, cashew and kishmish, rose in the national capital during the week following tight supplies against firm demand from retailers and stockists due to festive season.

However, almond and pistachio turned weak due to reduced offtake by retailers and stockists at existing higher prices against fresh arrivals from overseas markets. 

Marketmen said holding back of stocks by speculators amid negligible arrivals from producing centres mainly attributed the rise in select dry fruits prices.

Cashew kernel No 180, No 210, No 240 and No 320 increased upto Rs 10 to Rs 575-585, Rs 525-555,Rs 485-500 and Rs 425-455 and its broken too firm to Rs 390-395, Rs 310-360 and Rs 275-310 as compared with Rs 380-385, Rs 300-350 and Rs 265-300 per kg respectively.

Copra prices increased by Rs 100 to conclude at Rs 5,700-5,800 per quintal. Coconut power traded higher at 2,150-2,200 from last closing of Rs 2,100-2,150 per 25 kg.

Dry dates-red surged to Rs 3,200-8,600 instead of Rs 3,100-8,500 per quintal.

Kishmish Indian yellow and green prices surged up to Rs 200 to settle at Rs 4,000-4,600 and Rs 6,000-7,500 per 40 kg bag respectively. 

On the other hand, almond california prices fell by Rs 300 to closed at Rs 10,900 per 40 kg and its kernel moved down to Rs 370-375 against previous week's closing of Rs 385-390 per kg respectively. 

Pistachio hairati and peshwari also declined upto Rs 20 to conclude at Rs 1,115-1,205 and Rs 1,315-1,450 per kg, respectively.

KIRANA: Weak conditions were seen in the national capital during the week under review as select prices declining on fresh supply coupled with continued selling by stockists.

Marketmen said reduced offtake by retailers as well as exporters at existing higher levels against increased offerings by speculators mainly dragged prices down. They said paucity of funds and lower outside advices were other dampening factors.

Black pepper prices fell by Rs 500 to settle at Rs 20,300-20,400 from last week's close of Rs 20,800-20,900 per quintal on poor export demand.

Cardamom brown Jhundiwali and Kanchicut dropped in the range of Rs 5-10 to conclude at Rs 730-750 and Rs 825-975 per kg respectively. Mace-red and yellow prices declined upto Rs 10 finish at Rs 1,120-1,320 and Rs 1,490-1,540 per kg.

Poppyseed (Turkey, MP-RAJ and Kashmiri) prices fell by Rs 5 each to settle at Rs 240, Rs 240-290 and Rs 240 per kg respectively. Watermelon kernel declined by Rs 5 to close at Rs 135 per kg on weak advices from Jodhpur.

Red chilli and turmeric prices fell up to Rs 200 to settle at Rs 5,000-10,000 and Rs 15,800-18,900 per quintal respectively. Jeera common and jeera best quality also fell by Rs 700 to settle at Rs 13,200-13,400 and Rs 14,200-14,900 per quintal on weak cues from Unjha trends in Gujarat.

SUGAR: The sweetener prices firmed up on the wholesale market during the past week on rising festival and marriage season demand against tight supply and closed with handsome gain.

Trading volumes declined in the brief five-day long week following closure on Saturday for 'Gandhi Jayanti.'  

Marketmen said stockists and bulk consumers such as softdrink and ice-cream makers indulged in creating positions to meet coming demand for festivals of Dussehra and Diwali and helped the prices to go up.

The marriage season beginning next week also supported the uptrend to much extent, they added.

Sugar ready medium and second grade prices surged to Rs 2,760-2,885 and Rs 2,750-2,875 from previous week's close of 2,740-2,840 and Rs 2,730-2,830 per quintal respectively.

Similarly, mill delivery medium and second prices shot up at Rs 2,560-2,735 and Rs 2,550-2,725 against last week's close of Rs 2,550-2,670 and Rs 2,540-2,660 per quintal respectively.

In the millgate section, Asmoli and Mawana surged by Rs 20 and Rs 40 to Rs 2,710 and Rs 2,670 per quintal respectively.

The sugar of titabi and thanabhavan varieties rose upto Rs 25 to Rs 2,665 and Rs 2,630 while Budhana and Dorala rose in the range of Rs 20-25 to Rs 2,640 and Rs 2,650 per quintal respectively.

Jaggery: The wholesale gur market remained firm during the past week as most of the gur varieties surged on increased buying by stockists against restricted arrival from producing regions and closed with handsome gains.

Arrivals of the commodity and business volumes also declined due to closure of the all major markets in the country on Saturday for 'Gandhi Jayanti.'  

Marketmen said restricted arrivals from producing region of Uttar Pradesh against increased buying by stockists led to rise in wholesale gur prices.

At Delhi, gur chakku gained Rs 100 to Rs 2,900-2,950, while pedi rose by Rs 50 to Rs 3,000-3,050 per quintal respectively. In Muzzafarnagar, gur raskat rallied by Rs 300 to Rs 2,150-2,200 while chakku up by Rs 150 to Rs 2,600-2,700 per quintal.

Bullion: Silver prices rose to an all-time high of Rs 33,750 per kg on the bullion market during the past week on frantic buying by stockists and coin makers.

Gold also regained its record peak of Rs 19,500 per ten gram after a gap of two weeks on the back of firming global trend, before ended at Rs 19,400.

Trading sentiment in silver remained bullish as gold climbed to record high in global markets as investors sought silver as an alternate investment on weakening dollar. Silver traded near 30-year high.

Gold in overseas markets climbed to an all-time high of $1319.30 an ounce and silver reaching $22.12 an ounce, the highest level since 1980.

Silver ready commenced higher on steady inflow of buying after that metal rose to 30-year high in global markets and set a new peak of Rs 33,750 per kg, before ending at Rs 33,570, still showing a gain of Rs 395. 

In a similar fashion, silver weekly-based delivery surged by Rs 260 to Rs 32,980 per kg, after touching a highest level of Rs 33,220 on speculative support.

Silver coins, after moving between gains and losses on alternate bouts of trading and finished at last level of Rs 35,300 for buying and Rs 35,400 for selling of 100 pieces.

On the other hand, gold of 99.9 and 99.5 per cent purity after a steady start rose to a record high level of Rs 19,500 and Rs 19,400 on firming global trend before ending at previous levels of Rs 19,400 and Rs 19,300 per ten grams.

However, sovereign rose by Rs 100 to Rs 15,400 per piece of eight grams.