Edible oil ends higher on millers buying

Edible oil prices edged up at the wholesale oil and oilseeds market during the week following increased buying by vanaspati millers and retailers against restricted supplies from producing belts amid firm global cues.
A few oils in the non-edible section also went up on increased offtake by consuming industries.
Marketmen said increased buying by vanaspati units and retailers against restricted supplies from producing regions and a firming global trend mainly led to the rise in edible oil prices.
Meanwhile, palm oil for May delivery rose to 2,577 ringgit (USD 626) a tonne, the highest since February 22 on Bursa Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery (Gujarat) oil advanced by Rs 50 to Rs 9,350 per quintal, while groundnut solvent refined remained steady at Rs 1,700-1,800 per tin.
Mustard expeller (Dadri), cottonseed mill delivery (Haryana) and sesame mill delivery oils also edged up by Rs 50 each to Rs 8,050, Rs 5,600 and Rs 6,650 per quintal, respectively.

Palmolein (RBD) and palmolein (Kandla) oils shot up by Rs 100 each to Rs 5,600 and Rs 5,500 per quintal, respectively on global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too settled higher by a similar margin to Rs 6,550 and Rs 6,250 per quintal, respectively.

Grains: In a mixed pattern of trading, wheat prices
slipped during the week due to reduced offtake by flour mills against adequate stocks position, while rice basmati and a few other bold grains edged up on scattered demand.
Traders said reduced offtake by flour mills against sufficient stocks on higher supplies from producing regions mainly led to the fall in wheat prices.
They said, however, some demand against restricted supplies helped rice basmati and a few other bold grain prices to close higher.
In the national capital, wheat dara (for mills) fell by Rs 20 to Rs 1,695-1,700 per quintal. Atta chakki delivery followed the suit and eased to Rs 1,700-1,705 against last close of Rs 1,725-1,730 per 90 kg.

Atta flour mills and maida also shed Rs 10 each at Rs 890-900 and Rs 970-980 per 50 kg, respectively.
On the other hand, rice basmati Pusa-1121 variety moved up to Rs 3,850-4,850 from previous week's level of Rs 3,750-4,650, while basmati common held steady at Rs 5,000-5,100 per quintal, respectively.
Other bold grains like bajra and maize also ended higher at Rs 1,535-1,540 and Rs 1,685-1,690 from previous levels of Rs 1,510-1,515 and Rs 1,655-1,660 per quintal, respectively.