Buoyed by increased offtake by vanaspati units and a firming global trend, edible oil prices continued their upward journey on the wholesale oils and oilseeds market during this week.
However, non-edible oils moved in a narrow range on restricted buying activity and settled around previous levels.
Analysts said sustained buying by vanaspati millers and a firming in overseas market, mainly supported the upside in edible oil prices. Globally, September contracts gained 1.3% to $1,037 per tonne on the Malaysia Derivatives Exchange.
In the edible section, mustard expeller oil (Dadri) rose by Rs 20 to Rs 5,720 per quintal on local demand. Sesame and cottonseed mill delivery oils (Haryana) gained Rs 30 and Rs 20 to Rs 6,200 and Rs 5,480 per quintal.
Taking cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils strengthened by Rs 100 and Rs 60 to Rs 6,300 and Rs 5,860 per quintal, respectively. Palmolein (rbd) and palmolein (Kandla) oils, too, traded in the positive zone, with a gain of Rs 70 each to Rs 5,820 and Rs 5,520 per quintal, respectively.
Grains: After remaining steady for the major part of the week, fag-end buying by stockists pushed up rice basmati and non-basmati rice prices on the wholesale grains market. However, bajra, jowar and barley showed weakness on supply pressure from producing belts.
Analysts said fag-end buying by stockists on hopes of a rise in demand, helped rice basmati and non-basmati prices to go up. They said, however, sufficient stocks, following increased supplies from producing regions, kept pressure on prices of other bold grains, they said.
In the national capital, rice basmati common and Pusa-1121 varieties which remained steady in the major part of week, met with fresh buying and rose by Rs 100 each to Rs 5,300-5400 and Rs 4,300-5,100 per quintal, respectively.
Non-basmati rice permal raw rose Rs 25 to Rs 1,800-1,850 while sela and IR-8 traded higher by Rs 50 each to Rs 21,00-2,150 and Rs 1,700-1,750 per quintal, respectively in line with rice basmati trend.
On the other hand, bajra fell by Rs 90 to Rs 940-950 and barley shed Rs 10 to Rs 1,160-1,185 per quintal. Jowar yellow and white also moved down by Rs 75 and Rs 50 to Rs 900-970 and Rs 1,725-1,825 per quintal, respectively.
Pulses: Mixed conditions developed on the wholesale pulses market during the past week as select pulse led by gram rose on fresh buying by stockists and retailers, while a few others remained weak on adequate stocks positions.
Traders said fresh buying by stockists and retailers amid fall in arrivals from producing belts mainly led to rise in select wholesale pulse prices. However, they said adequate stocks position against lack of buying support helped other prices to trade lower.
Meanwhile, state-owned trading firm MMTC invited bids for the sale of 3,650 tonnes of pulses further influenced market sentiments, they added.
In the national capital, gram rose by Rs 125 to Rs 2,800-2,825 and its dal local and best quality moved up by Rs 75 and Rs 150 to Rs 3,200-3,215 and Rs 3,400-3,500 per quintal, respectively. Besin Shaktibhog and Rajdhani brands also traded higher at Rs 1,350 per 35 kg bag each.
Lobia hardened by Rs 200 to Rs 4,900-5,400, while peas white and green edged up by Rs 75 each to Rs 2,300-2,400 and Rs 2,450-2,650 per quintal, respectively.
On the other hand, urad and its dal chilka local declined by Rs 50 and Rs 120 to Rs 3,800-4,200 and Rs 4,580-4,980 per quintal, respectively. Its dal best quality and dhoya lost Rs 100 each at Rs 5,200-5,700 and Rs 5,050-5,150 per quintal, respectively.
Moong and its dal chilka local shed Rs 30 each to Rs 3,950-4,950 per quintal, respectively. Masoor small and bold prices fell by Rs 100 each to Rs 2,600-2,800 and Rs 2,750-3,000, while its dal best quality traded lower by the same margin to Rs 3,400-3,700 per quintal, respectively.
Sugar: An easy tendency developed in the wholesale sugar market during the week under review, following adequate stocks position on the back of fresh supply from mills, registered losses up to Rs 25 per quintal. Reports of bumper sugarcane crop production this year further put pressure on the sweetener's prices.
Sugar ready medium and second grade prices dropped from last week's close of Rs 2,950-3,100 and Rs 2,925-3,050 to Rs 2,925-3,075 and Rs 2,900-3,025 per quintal, respectively. Mill delivery medium and second grade price fell by Rs 25 to Rs 2,735-2,935 and Rs 2,730-2,910, respectively.
Among millgate excluding duty section, sugar dorala prices moved down by Rs 15 to settle at Rs 2,825 per quintal. Sugar mawana and titabi, too, eased by Rs 10 each to Rs 2,840 and Rs 2,850 per quintal, respectively.
Jaggery: The wholesale gur prices firmed up in the national capital during this week on increased buying in the face of restricted supply, registered a net gains up to Rs 100 per quintal.
Market analysts said less availability of sugarcane as farmers preferred to sell their produce to mills for a better yield mainly created paucity of gur the market.
Adversed weather conditions slowed down the production of gur and further influenced the market sentiment, they said. In Delhi, gur chakku prices rose from Rs 2,800-2,900 to finish at Rs 2,850-2,950 per quintal, showing net gains of Rs 50 per quintal.
Meanwhile, gur pedi and dhayya prices managed to end unchanged at Rs 3,000-3,100 and Rs 3,200-3,300 per quintal in restricted trading activity. Shakkar price too held unchanged at Rs 3,200-3,300 per quintal on little support.
In Muzaffarnagar, gur raskat jumped up by Rs 100 to Rs 2,350-2,425 as compared to previous closing levels of Rs 2,250-2,325 per quintl on brisk buying by alcohol makers.
Gur chakku also gained from Rs 2,425-2,550 to Rs 2,450-2,625, clocking a rise of Rs 75 per quintal. At Muradnagar, gur pedi hardened from Rs 2,650-2,700 to Rs 2,700-2,750, showing net gains of Rs 50 per quintal.
However, gur dhayya prices remained unquoted due to paucity of stocks.
Dry Fruits: The wholesale dry fruit prices closed sharply higher in the national capital during the last week largely on the back of heavy buying by stockists and retailers for the ongoing marriage season amid tight stock positions on restricted arrivals.
Trading sentiments were better mostly on increased demand against less arrivals from the producing southern regions supported the rise in the prices.
Prices of almond (California) rose by Rs 200 to Rs 10,600 per 40 kg while its kernel strengthened to Rs 370-380 from previous closing of Rs 365-375 per kg.
Cashew kernel No 180, No 210, No 240 and No 320 rose up to Rs 15 to settled at Rs 690-700, Rs 620-645 Rs 575-610 and Rs 520-575 per kg, respectively.
Cashew kernel broken (2, 4 and 8 pieces) also surged up to Rs 10 to conclude at Rs 415-495, Rs 410-475 and Rs 360-435 per kg, respectively.
Pistachio varieties such as hairati and Peshwari also traded higher at Rs 900-920 and Rs 1,150-1,225 as against previous closing of Rs 850-865 and Rs 1,050-1,090 per kg, respectively.
However, walnut and kernel declined up to Rs 25 to conclude at Rs 170-275 and Rs 400-700 per kg, following increased arrivals against reduced offtake.
Kirana: Select spices traded higher in the national capital during the week under review on tight supply coupled with sustained buying by local and upcountry stockists.
Traders said restricted arrivals, firming trend in the futures markets and pick-up in demand mainly influenced trading sentiments in the wholesale kirana market.
Black pepper prices traded higher at Rs 28,000-28,500 as against previous closing of Rs 27,600-27,800 per quintal on fresh buying by local stockists and exporters.
Cardamom brown Jhundiwali and Kanchicut prices increased up to Rs 30 to closed at Rs 950-1,010 and Rs 1,125-1,250 per kg, respectively.
Dhania (superior quality) surged by Rs 500 to conclude at Rs 5,500-10,500 per quintal and red chilli rose up to Rs 200 to Rs 9,700-13,500 per quintal. Methiseed prices traded higher at Rs 3,200-4,500 against previous mark of Rs 3,000-4,200 per quintal.
Jeera common and jeera best quality also increased by Rs 100 to Rs 14,900-15,100 and Rs 17,100-17,200 per quintal on stockists buying due to overseas enquiries.
