Palmolein, soyabean oil up on pick up in demand

A mixed trend prevailed at the wholesale oil and oilseeds market during the week as prices of select edible oils -- palmolein and soybaean -- rose on emergence of buying by vanaspati millers and retailers amid a firming global trend while a few others remained weak on adequate stocks.
Linseed in the non-edible section, also showed some strength on pick up in demand from consuming industries.
Marketmen said fresh buying by vanaspati units and retailers and a firm global trend mainly supported the rise in select edible oil prices.
Meanwhile, palm oil rallied to 2,604 ringgit (USD 629) a tonne, the highest level since May 2014, on Bursa Malaysia Derivatives in Kuala Lumpur as palm oil stockpiles in that country probably declined to the lowest since July after El Nino-induced dry weather reduced production in the world's second-largest producer.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils climbed Rs 150 each to Rs 5,300 and Rs 5,250 per quintal, respectively, on firm global trend.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed the suit and edged up by Rs 50 each to Rs 6,400 and Rs 6,100, respectively, while crude palm oil (ex-Kandla) traded higher by a similar margin to Rs 4,100 per quintal.

On the other hand, groundnut mill delivery (Gujarat) oil met with resistance and declined by Rs 50 to Rs 9,150 per quintal, while groundnut solvent refined shed Rs 25 at Rs 1,700-1,800 per tin.

Sesame mill delivery and cottonseed mill delivery (Haryana) oils also eased by Rs 100 and Rs 50 each to Rs 6,800 and Rs 5,700 per quintal, respectively.
Grains: Rice basmati and a few other bold grains ended
lower at the wholesale grains market during the week owing to muted demand against adequate stocks position.
Traders said easing demand from retailers against ample stocks following pick up in supplies from producing regions and increased procurement by the government mainly kept pressure on the prices of the commodity.
Meanwhile, government's rice procurement has increased 25 per cent to 24.47 million tonnes in the 2015-16 marketing year so far despite prospects of lower production due to poor monsoon.

They said reduced offtake by consuming industries led to decline in a few other bold grain prices.
In the national capital, rice basmati common and Pusa-1121 variety eased to Rs 4,900-5,000 and Rs 3,750-4,650 against last week's close of Rs 5,200-5,300 and Rs 4,000-4,900 per quintal, respectively.
Other bold grains like bajra and maize also slipped to Rs 1,390-1,400 and Rs 1,620-1,625 from previous levels of Rs 1,425-1,430 and Rs 1,640-1,645 per quintal, respectively.
Pulses: There was no change in the pattern of trading at
the wholesale market as most of the pulses led by arhar extended losses for yet another week owing to slackened demand from retailers at prevailing levels against adequate stocks on higher supplies from growing belts.

Marketmen said muted demand from retailers at current levels against sufficient stocks on higher supplies from producing regions amid the government measures to curb rising prices, continued to keep pressure on pulses prices.
In the national capital, arhar and its dal dara variety remained under selling pressure and tumbled to Rs 7,700 and Rs 11,000-13,000 against last close of Rs 8,600 and Rs 11,900-13,900 per quintal, respectively.
Urad and its dal chilka moved down to Rs 8,800-11,500 and Rs 9,800-10,000 against last close of Rs 9,300-12,050 and Rs 10,300-10,500 per quintal respectively. Its dal best quality and dhoya followed suit and eased to Rs 9,900-10,500 and Rs 10,300-10,700 as compared to previous close of Rs 10,400-11,000 and Rs 10,800-11,200 per quintal, respectively.

Moong and its dal chilka local slipped to Rs 6,950-7,550 and Rs 7,550-7,950 from previous levels of Rs 7,200-7,800 and Rs 7,800-8,200 per quintal respectively.
Its dal dhoya local and best quality traded lower at Rs 7,950-8,450 and Rs 8,450-8,650 as against last close of Rs 8,150-8,650 and Rs 8,650-8,850 per quintal.
Masoor small and bold plunged to Rs 4,400-5,000 and Rs 4,450-5,050 from previous close of Rs 4,950-5,550 and Rs 5,000-5,600 per quintal. Its dal local and best quality eased to Rs 5,400-5,900 and Rs 5,500-6,000 against last levels of Rs 5,950-6,450 and Rs 6,050-6,550 per quintal respectively.
Malka local and best quality enquired lower at Rs 5,800-6,300 and Rs 5,900-6,300 as compared to last close of Rs 6,350-6,850 and Rs 6,450-6,850 per quintal.

Both lost Rs 600 at Rs 5,300-5,700 per quintal.
In line with overall trend, gram, gramdal local and best quality finished lower at Rs 4,400-4,800, Rs 4,500-4,800 and Rs 4,800-5,000 from previous week's levels of Rs 4,825-5,225, Rs 5,050-5,350 and Rs 5,250-5,550 per quintal respectively.
Besin Shaktibhog and Rajdhani too quoted lower at Rs 2,100 each instead of Rs 2,200 each per 35 kg bag.
Dry fruits: The wholesale dry fruits market ended higher
in the national capital during the week largely on increased buying by stockists and retailers, buoyed by ongoing wedding season demand.
Further, tight stock positions following restricted arrivals from producing regions and overseas markets influenced the prices.

Sentiments turned better mostly on increased offtake by stockists and retailers to meet ongoing marriage and winter season demand.
Almond (California) prices rose by Rs 500 to conclude at Rs 18,000 per 40 kg, while its kernel traded higher at Rs 640-650 against previous closing of Rs 620-630 per kg.
Almond gurbandi and girdhi rose by Rs 100 each to Rs 10,000-10,200 and Rs 6,800-7,200 per 40 kg.
Cashew kernel No 180, No 210, No 240 and No 320 and its broken (2, 4 and 8 pieces) rose Rs 5 each to Rs 780-790, Rs 680-685, Rs 635-640, Rs 590-595, Rs 540-605, 540-605 and Rs 505-555 per kg, respectively.

Kishmish Indian yellow and green went up Rs 100 each higher at Rs 3,300-4,200 and Rs 4,000-7,500 per 40 kg.
Pistachio hairati and peshwari prices gained by Rs 5 each to settle at Rs 1,260-1,390 and Rs 1,385-1,410 per kg, respectively.
Walnut and its kernel prices also up by Rs 10 each to end at Rs 220-400 and Rs 745-1,020 per kg, respectively.