Don’t miss the latest developments in business and finance.

Palmolein, mustard oils slide in mixed trend

Image
Press Trust of India New Delhi
Last Updated : Mar 11 2017 | 12:42 PM IST
The wholesale oils and oilseeds market displayed a mixed trend during the week as prices of palmolein and mustard oils drifted further lower owing to muted demand from vanaspati millers, while groundnut oil edged up on scattered demand from retailers.
Castor oil in the non-edible section, moved up due to increased offtake by consuming industries.
Traders said easing demand from vanaspati millers against ample stocks on increased arrivals from growing regions mainly kept palmolein and mustard oil prices lower but mild demand helped groundnut oil prices to end higher.
In the national capital, palmolein (RBD) and palmolein (Kandla) oils declined by Rs 50 each to Rs 5,800 and Rs 5,850 per quintal, respectively.
Mustard expeller (Dadri) also shed Rs 50 at Rs 8,300 per quintal.
On the other hand, groundnut mill delivery (Gujarat) oil moved up by Rs 100 to Rs 9,900 per quintal on mild demand.

More From This Section

However, cottonseed mill delivery (Haryana) and sesame mill delivery oils moved in a narrow range in limited deals and settled at previous week's levels of Rs 6,700 and Rs 8,400 per quintal.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also maintained a steady trend at Rs 7,000 and Rs 6,700 per quintal.
Grains: Wheat staged a rebound at the wholesale grains
market during the week backed up by increased offtake by flour mills and recorded fresh gains.
However, other bold grains slipped on sluggish demand from consuming industries.
Traders attributed the recovery in wheat prices to increased offtake by flour mills amid pause in supplies.
In the national capital, wheat dara (for mills) edged higher to Rs 1,920-1,930 from previous level of Rs 1,810-1,820 per quintal. Atta chakki delivery followed suit and traded higher at Rs 1,930-1,960 from previous level of Rs 1,820-1,850 per 90 kg.
Atta flour mills, maida and sooji too finished higher at Rs 1,060-1,070, Rs 1,140-1,150 and Rs 1,250-1,260 as compared to last levels of Rs 990-1,000, Rs 1,070-1,080 and Rs 1,180-1,190 per 50 kg in line with a wheat trend.
On the other hand, other bold grains, bajra, barley and maize slipped to Rs 1,370-1,380, Rs 1,650-1,670 and Rs 1,530-1,540 against last close of Rs 1,400-1,410, Rs 1,700-1,720 and Rs 1,550-1,560 per quintal, respectively.
Pulses: Firm conditions prevailed at the wholesale market
for the second straight week as select pulses, led by urad spurted by up to Rs 800 per quintal on increased buying by dal mills and stockists, driven by rising demand from retailers.
Marketmen said persistent buying by dal mills and stockists driven by strong demand from retailers against tight stocks on fall in arrivals from producing regions mainly pushed up urad and other pulses prices.
In the national capital, urad and its dal chilka surged to Rs 6,300-7,200 and Rs 6,500-6,600 from previous levels of Rs 5,800-6,400 and Rs 5,900-6,000 per quintal.
Its dal best quality and dhoya followed suit and climbed to Rs 6,600-7,100 and Rs 7,000-7,200 from last close of Rs 6,000-6,500 and Rs 6,400-6,600 per quintal.
Kabuli gram small variety jumped by Rs 300 to Rs 9,200-9,700, while gram edged up to Rs 5,550-5,700 from previous level of Rs 5,500-5,700 per quintal, respectively.
Besan Shaktibhog and Rajdhani quoted higher at Rs 2,550 instead of Rs 2,500 per 35 kg bag.
Arhar and its dal dara variety too shot up by Rs 250 and Rs 300 to Rs 4,650 and Rs 6,600-8,400 per quintal.
In line with overall trend, moong and its dal chilka rose by Rs 200 each to Rs 5,100-5,300 and Rs 5,600-5,800 per quintal. Its dal dhoya local and best quality traded higher by the same margin to Rs 6,200-6,700 and Rs 6,700-6,900 per quintal.
Masoor small and bold edged up by Rs 50 each to Rs 4,700-4,850 and Rs 4,750-4,950 per quintal. Its dal local and best quality enquired higher by Rs 100 each to Rs 5,100-5,600 and Rs 5,200-5,700 per quintal.
Sugar: There was no change in the pattern of trading at
the wholesale market during the week with sugar recording further fall in its prices by up to Rs 80 per quintal on ample stocks following persistent supplies from mills amid sagging demand from stockists and bulk consumers following end of marriage season.
Marketmen said continued fall in sugar prices was mostly attributed to waning demand from bulk consumers as wedding season came to an end amid constant arrivals from mills.
Besides, reports of a subdued trend in overseas markets and a weak trend at the domestic futures market also put pressure on the sweetener prices, they added.
Sugar spot M-30 and S-30 prices fell by Rs 50 to end the week at Rs 3,930-4,000 and Rs 3,920-3,990 per quintal.
Likewise, mill delivery M-30 and S-30 prices edged down by Rs 50 each to settle the week at Rs 3,630-3,710 and Rs 3,620-3,700 per quintal, respectively.
In the millgate section, sugar Anupshaher and Nazibabad suffered the most with prices falling by Rs 80 each to settle at Rs 3,630 per quintal each, followed by Baghpat and Morna by Rs 75 each to Rs 3,650 and Rs 3,640 and Ramala by Rs 70 to Rs 3,640 per quintal.
Sugar Kinnoni too lost Rs 50 at Rs 3,710, while Dorala, Simbholi and Khatuli declined by Rs 40 each to Rs 3,655, Rs 3,695 and Rs 3,700 per quintal.
Mawana dropped by Rs 35 to Rs 3,655, Chandpur and Modinagar eased by Rs 30 each to Rs 3,630 and Rs 3,650, while Budhana and Thanabhavan faded Rs 25 each to Rs 3,670 and Rs 3,665 per quintal.
Jaggery: Dull conditions prevailed at the wholesale gur
(Jaggery) market during the week in the national capital with prices after hovering sideways on alternate bouts of buying and selling finally ended on a unchanged note.
On the other hand, Muzaffarnagar and Muradnagar gur markets displayed a subdued trend due to muted demand amid adequate stocks, with prices registering fall up to Rs 150 per quintal.
Marketmen said absence of demand following end of winter season amid mounting stocks on increased arrivals from manufacturing belts, mainly led to the fall in prices.
Besides, weakening sugar markets also had its shadow on gur prices, they quoted.
In Delhi, gur Chakku, Pedi, Dhayya and Shakkar prices ruled flat throughout the week at Rs 3,200-3,300, Rs 3,100-3,200, Rs 3,300-3,400 and Rs 3,500-3,600 per quintal, respectively.
At Muzaffarnagar, gur Laddoo drifted lower by Rs 150 to end the week at Rs 2,750-2,825 as compared to previous week's close of Rs 2,900-2,950 per quintal.
Gur Khurpa prices declined from last week's close of Rs 2,650-2,700 to end the week at Rs 2,575-2,625, showing a fall of Rs 75 per quintal, while Chakku prices were down by Rs 50 to Rs 2,825-2,975 per quintal.
Gur Raskat prices also showed a fall of Rs 50 to finish the week at Rs 2,500-2,550 per quintal on heavy arrivals and muted demand from beer makers.
Dryfruits: Led by almond and walnut, dryfruit prices fell
at the wholesale market during the week due to reduced offtake at existing higher levels against adequate stocks position.
Traders said subdued demand from bulk consumers against adequate stocks position amid weakening trend in producing regions, mainly led to the fall in select dryfruit prices.
Almond california prices fell by Rs 100 to conclude at Rs 17,100-17,300 per 40 kg and its kernel prices slipped by Rs 10 to finish at Rs 610-615 per kg, respectively.
Almond gurbandi and girdhi drifted lower by Rs 100 each to settle at Rs 12,000-12,200 and Rs 5,500-5,600 per 40 kg.
Chilgoza-roasted declined by Rs 50 to conclude at Rs 2,800-3,100 per kg.
Cashew kernel (No 180, 210, 240 and 230) declined by Rs 10 each to end at Rs 1,060-1,070, Rs 940-950, Rs 900-910 and Rs 770-780, while its pieces (2, 4 or 8) placed lower at Rs 710-760, Rs 700-750 and Rs 600-660 per kg, as against the previous close of Rs 730-775, Rs 705-755 and Rs 610-665 per kg.
Coconut powder also traded lower at Rs 3,700-4,100 against previous closing of Rs 3,800-4,200 per 25 kgs.
Copra prices fell by Rs 100 to finish at Rs 8,400-10,900 per quintal.
Kishmish Indian yellow and green dropped by Rs 100 each to conclude at Rs 4,000-4,500 and Rs 4,500-8,000 per 40 kg.
Pistachio hairati and peshawari prices drifted lower by Rs 15 each to finish at Rs 1,440-1,490 and Rs 1,540-1,590 per kg, respectively.
Kirana: Wholesale prices of select spices fell during the
week on selling by stockists against slowdown in buying activity at prevailing levels and closed with widespread losses.
Sentiments turned weak owing to adequate stocks position following increased arrivals from producing belts.
Marketmen said reduced offtake by retailers and exporters as demand eased at existing higher levels, weighed on prices.
Black pepper prices eased by Rs 10 to conclude at Rs 690-790 per kg due to reduced offtake by exporters.
Cardamom brown jhundiwali and kanchicut prices fell Rs 10 each to settle at Rs 760-780 and Rs 810-1,070 per kg.
Cardamom small varieties such as chitridar, colour robin, bold and extra bold fell up to Rs 30 to conclude at Rs 1,380-1,480, Rs 1,280-1,300, Rs 1340-1,350 and Rs 1,440-1,450 per kg, respectively.
Coriander slipped to Rs 6,300-13,000 from last week's close of Rs 6,800-13,300 per quintal.
Dry ginger and kalaunji prices traded lower at Rs 12,000-16,500 and Rs 13,000-13,500 as compared to previous week's closing of Rs 12,500-17,500 and Rs 13,000-14,000 per quintal, respectively.
Poppyseed (Turkey, U.P and MP-RAJ) prices eased up to Rs 20 to close at Rs 390-410, Rs 390-400 and Rs 420-440 per kg, respectively.
Red chilli and turmeric prices declined up to Rs 500 to conclude at Rs 6,500-15,800 and 7,400-10,700 per quintal, respectively.
Jeera common and jeera best quality also fell up to Rs 500 to end at Rs 17,900-18,100 and Rs 19,500-20,000 per quintal due to decline in the export demand.
On the other hand, cloves and cinnamon increased up to Rs 25 to conclude at Rs 570-700 and Rs 190-200 per kg.
Mace-- red and yellow-- also spurted up to Rs 100 to end at Rs 950-1,500 and Rs 1,080-1,100 per kg, respectively.

Also Read

First Published: Mar 11 2017 | 12:42 PM IST

Next Story