Edible oil prices continued to rise for the third straight week on the oils and oilseeds market on continued buying by vanaspati millers and retailers for the ongoing marriage season amid firming global trend.
However, non-edible oils moved in a narrow range in restricted buying activity and settled around previous levels.
Sentiments in edible oils remained firm as palm oil gained for a third week in Malaysia, the longest streak in six months, as buyers in Europe boosted imports to replenish stockpiles and as an increase in crude-oil prices lifted biofuel demand.
Meanwhile, the most-active contract advanced by 1.4% this week at $1,136 per metric tonne on the Malaysia Derivatives Exchange, the highest close since March 18.
Besides, rising demand from vanaspati millers and retailers following ongoing marriage season and reports of rising trend in global market helped edible oil prices to rise further.
In the edible section, mustard expeller oil (Dadri) and groundnut mill delivery (Gujarat) oil rose by Rs 50 and Rs 30 to Rs 5,750 and Rs 8,030 per quintal, respectively. Groundnut solvent refined oil gained Rs 25 to Rs 1,425-1,435 per tin.
Sesame mill delivery and cottonseed mill delivery (Haryana) oils moved up by Rs 20 each to Rs 6,270 and Rs 5,570 per quintal, respectively.
Taking cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils added Rs 50 and Rs 30 to Rs 6,300 and Rs 5,930, respectively, while crude palm oil (ex-kandla) edged up by Rs 30 to Rs 5,380 per quintal.
Palmolein (rbd) and palmolein (Kandla) oils strengthened by Rs 30 each to Rs 5,950 and Rs 5,650 per quintal, respectively.
Grains: Wheat and other grains showed some weakness as their prices declined in the wholesale grains market during the past week on sluggish demand against adequate stocks. However, barley rose on fresh buying by consuming industries against tight supply.
Traders said adequate stocks position and pick-up in procurement mainly led to the fall in wheat prices. Meanwhile, wheat procurement during the current rabi marketing season broke previous records with the purchase of the grain touching 25.47 million tonne.
This has been achieved on the back of increased purchases in Punjab, Haryana, Rajasthan, Madhya Pradesh and Uttar Pradesh, FCI said.
In the national capital, wheat dara (for mills) shed Rs 5 to Rs 1,190-1,195, while wheat deshi remained stable at Rs 1,600-1,750 per quintal. Atta chakki delivery followed suit and declined by Rs 5 to Rs 1,195-1,200 per 90 kg. Jowar yellow and white also declined by Rs 20 each to Rs 1,030-1,100 and Rs 1,830-1,875 per quintal, respectively.
Bajra which remained steady during the major part of the week, traded lower by the same margin to Rs 1,010-1,020 and maize lost Rs 10 to Rs 1,225-1,235 per quintal. On the other hand, barley attracted selective buying from consuming industries and gained Rs 25 to Rs 1,450-1,475 per quintal.
Pulses: In a mixed pattern of trading, gram and peas prices rose smartly in the wholesale pulses market during the week under review on pick-up in retailers demand, while urad and moong declined due to lack of follow up support.
Traders said pick-up in retailers demand, driven by the ongoing marriage season mainly led to rise in gram and peas prices. Adequate stocks position against lack of buying support caused other prices to decline moderately, they added.
In the national capital, gram rose by Rs 100 to Rs 2,450-2,475, while its dal local and best quality were shot up by Rs 150 each to Rs 2,850-2,865 and Rs 2,950-3,050 per quintal, respectively.
Kabli gram small variety also moved up by Rs 50 to 5,150-6,650, while peas white and green edged up by Rs 25 each to Rs 2,125-2,225 and Rs 2,275-2,475 per quintal, respectively. On the other hand, urad and its dal chilka local fell by Rs 50 each to Rs 3,950-4,350 and Rs 4,850-5,250 per quintal, respectively.
Its dal best quality and dhoya traded lower by the same margin to Rs 5,350-5,850 and Rs 5,300-5,400 per quintal, respectively.
Moong and moong dal chilka declined by Rs 25 and Rs 50 to Rs 4,050-5,050 and Rs 5,050-5,450, respectively, while dhoya local and best quality lost Rs 50 each to Rs 5,350-5,550 and Rs 5,950-6,150 per quintal, respectively.
Sugar: Wholesale sugar market depicted a weak tendency in the national capital during the week under review and lost up to Rs 20 per quintal on selective buying by stockist and bulk consumers against increased selling by mills.
Market analysts said despite scattered buying by retailer and bulk consumers such as ice-cream and softdrink manufacturers, heavy stocks position in the markets on millers selling, pulled down the sweetener's prices.
Also, releasing of 18.57 lakh tonne of free-sale sugar, including 2.07 levy sugar quota for next month, by the government dampened the trading sentiment, they added.
Sugar ready medium and second grade prices started steady on some support at Rs 2,940-3,020 and Rs 2,910-3,010 per quintal, respectively, but fag-end selling pulled down the prices.
Both lost Rs 20 to settle at 2,920-3,020 and Rs 2,890-3,010 per quintal, respectively.
Mill delivery medium and second grade prices commenced flat at Rs 2,730-2,915 and Rs 2,700-2,900 but mid week selling placed the metal lower at Rs 2,710-2,900 and Rs 2,680-2,880, recording a loss of Rs 20 per quintal, respectively.
In the millgate excluding duty section, a similar trend developed and prices of thanabhavan fell by Rs 20 to Rs 2,710 per quintal. Kinnoni and dorala qualities also eased by Rs 10 each to Rs 2,870 and Rs 2,810 per quintal, respectively.
