Select edible oils maintained an upward march in the oils and oilseeds market during the past week, as vanaspati millers engaged in buying activity to meet the upcoming festival and marriage season demand.
In addition, firming trend in global markets also boosted the trading sentiment here. A few oils in the non-edible section, also showed strength on the back of increased industrial offtake.
Sentiment remained firm, as palm oil continued its winning streak in Malaysia for the fourth straight week, on expectations that demand from the biggest users will rise, and as rival soybeans climbed.
Meanwhile, December-delivery futures added 2.1 per cent for the week to $876 a metric tonne on the Malaysia Derivatives Exchange.
Marketmen said continued buying by vanaspati units and local parties to meet the festive and marriage season demand amid rising trend in Malaysia mainly led to a rise in select edible oil prices.
In the national capital, mustard expeller oil (Dadri) attracted buying support from local parties and rose by Rs 80 to Rs 5,480 per quintal.
Mustard pakki and kachi ghani oils followed suit and traded higher by Rs 5 each to Rs 730-885 and Rs 885-985 per tin.
Cottonseed (Haryana)and sesame mill delivery oils were also in better form on good demand from vanaspati millers and shot up by Rs 150 and Rs 100 to Rs 4,800 and Rs 5,950 per quintal, respectively.
Coconut oil too traded in positive zone at Rs 1,150-1,200, against the last close of Rs 1,125-1,155 per tin.
Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) moved up by Rs 120 and Rs 60 to Rs 4,710, while crude palm oil (ex-kandla) and palmolein (rbd) gained Rs 50 and Rs 70 to Rs 4,230 and Rs 4,970 per quintal, respectively on firming global trend.
In the non-edible section, castor oil rose by Rs 200 to Rs 8,400-8,500 per quintal on increased industrial offtake. In oilseeds, mustard seed oil too traded higher at Rs 2,550-2,680 from previous level of Rs 2,500-2,680 per quintal.
Grains: Mixed trend developed in the wholesale grains market during the past week, as select grains such as wheat and jowar prices declined on reduced offtake against increased arrivals while a few other gained on fresh buying and improved marginally.
Traders said increased arrivals against subdued demand mainly led to a fall in wheat dara and jowar prices. They said prices of non-basmati rice and bajra gained on increased buying, against less arrivals from producing regions due to heavy rains.
Wheat dara, mostly used by flour mills, lacked necessary buying support from flour mills and shed Rs 5 to Rs 1,215-1,220 per quintal and wheat deshi remained steady at Rs 1,650-1,750 per quintal.
However, maida and sooji continued to trade in a tight range and maintained around previous levels of Rs 750-780 and Rs 840-860 per 50 kg, respectively.
Jowar yellow and white fell by Rs 30 and Rs 50 to Rs 1,170-1,270 and Rs 2,250-2,300 per quintal, while bajra gained Rs 10 to Rs 1,010-1,020 per quintal.
In the rice section, rice permal raw, wand and sela found some buying from retailers and traded higher by Rs 5 each to Rs 1,995-2,045, Rs 2,070-2,220 and Rs 2,295-2,345 per quintal, respectively.
