08/10/2012 (Indian Express) - The wholesale oils and oilseeds market ended on a mixed note during the week as select edible oils continued to slide on increased selling by stockists driven by a weak global trend, while a few others recovered onlocal buying.

A few oils in the non-edible section declined on reduced offtake by consuming industries against increased arrivals.

Markets remained closed on Tuesday on account of 'Gandhi Jayanti'.

Traders said increased selling by stockists in line with a weak global trend and fall in demand mainly kept pressure on select wholesale edible oil prices.

Meanwhile, palm oil futures dropped 5.2 per cent this week on the Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery oil (Gujarat) declined by Rs 50 to Rs 11,750 per quintal, while groundnut solvent refined held steady at Rs 1,900-1,950 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils remained under selling pressure on the back of weak global trend.

They shed Rs 50 each at Rs 7,400 and Rs 7,000, respectively. Crude palm oil (ex- kandla) traded lower by the same margin to Rs 7,250 per quintal.

Palmolein (rbd) and palmolein (Kandla) oils settled around previous levels of Rs 7,550 and Rs 7,100 per quintal, respectively, after moving between gains and losses on alternate bouts of buying or selling.

On the other hand, mustard expeller oil (Dadri) found buying support from local parties and recovered by Rs 50 to Rs 8,150 per quintal.

Mustard pakki and kachi ghani oils followed suit and traded higher by Rs 10 each to Rs 1,210-1,350 and Rs 1,365-1,465 per tin of 15-litre, respectively.

Sesame mill delivery oil also found some support and traded higher by Rs 50 to Rs 8,600 per quintal.

In the non-edible section, linseed oil which remained steady for the major part of week, met resistance from the paint industry and shed Rs 50 to Rs 5,600 per quintal.

Neem oil eased by Rs 50 to Rs 4,500-4,600 per quintal on reduced industrial offtake.

Grains: Weak conditions continued in the wholesale grains market during the week under review with wheat and other bold grains weakening on increased supplies against subdued demand.

Marketmen said increased supplies following selling by the government at subsidised rate to bulk users and fall in demand from flour mills, lead to a fall in wheat prices at wholesale market here.

In the national capital, wheat dara (for mills) remained weak and shed another Rs 10 to Rs 1,460-1,465, while wheat deshi held steady at Rs 1,950-2,150 per quintal, respectively, on adequate supplies.

Atta chakki delivery followed suit and traded lower Rs 10 at Rs 1,465-1,470 per 90 kg.

Other bold grains like, maize fell by Rs 30 to Rs 1,250-1,260, while jowar yellow and white eased to Rs 1,275-1,300 and Rs 2,100-2,300 against last close of Rs 1,280- 1,290 and Rs 1,325-1,350 and Rs 2,175-2,275 per quintal, respectively.

Bajra dropped to Rs 1,080-1,085 against last close of Rs 1,190-1,200, while barley shed Rs 25 at Rs 1,275-1,290 per quintal.

In the rice section, rice basmati common and Pusa-1121 remained steady for the major part of week but met with fag-end selling and lost Rs 100 each at Rs 5,300- 5,400 and Rs 4,600-5,400 per quintal, respectively.

Pulses: Prices of select pulses, led by moth, recovered in the wholesale pulses market during the week on emergence of buying by stockists to meet increased demand from retailers.

Restricted arrivals from producing belts also supported the upside in select pulses prices.

Marketmen said fresh buying by stockists driven by rising demand from retailers mainly pushed up select wholesale pulses.

In the national capital, moth gained the most at Rs 4,000-4,500 from previous level of Rs 3,300-3,800 per quintal.

Rajmah chitra moved up to Rs 7,500-9,800 against last close of Rs 7,300-9,400 per quintal on retailers demand.

Moong and its dal chilka local rose by Rs 200 each to Rs 4,800-5,300 and Rs 5,250- 5,650, while moong dal dhoya local and best quality enquired higher by similar margin to Rs 5,650-5,750 and Rs 6,350-6,450 per quintal.

In line with a general firming trend, gram, gramdal local and best quality were ended higher at Rs 4,500-5,600, Rs 5,650-5,750 and Rs 5,850-5,950 compared to previous week's close of Rs 4,450-5,550, Rs 5,650-5,750 and Rs 5,850-5,950 per quintal, respectively.