19/01/2013 (Indian Express) - The wholesales oil and oilseeds market ended on a firm note during the past week as select edible oil prices recovered on fresh buying by vanaspati millers and retailers to meet ongoing wedding season demand amid a firm global trend.

A few oils' in the non-edible section also moved up on increased offtake by industrial units and other consuming industries.

Sentiment turned better as palm oil gained in overseas markets on speculation that Malaysia may increase exports of refined oils to India after the world's biggest buyer said it will tax unprocessed cooking oil for the first time since 2008.

The palm oil futures rose 1.4 per cent this week on the Malaysia Derivatives Exchange.

Meanwhile, the government decided to impose 2.5 per cent import duty on crude edible oil to protect domestic oilseed farmers, but kept duties on refined cooking oil unchanged fearing hike in retail prices.

In addition, increased buying by vanaspati millers and retailers to meet the marriage season demand further supported the uptrend in edible oils.

In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 50 to Rs 12,300 per quintal on retailers demand, while groundnut solvent refined followed suit and traded higher by the same margin to Rs 2075-2125 per tin.

Sesame mill delivery oil also attracted brisk buying from vanaspati millers and shot up by Rs 200 to Rs 10,450 per quintal.

Tracking a firming global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved up by Rs 150 each to Rs 7,550 and Rs 7,100, while crude palm oil (ex-kandla) gained Rs 100 at Rs 7,400 per quintal respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and rose by Rs 160 each to Rs 7,500 and Rs 7,000 per quintal.

In the non-edible section, linseed oil edged up by Rs 50 to Rs 6,150 per quintal on fresh enquiries from paint industries. Neem oil too traded higher by Rs 50 to Rs

4900-5000 per quintal on increased offtake by soap makers.

GRAINS: Rice basmati prices declined during the past week on fall in demand at prevailing higher levels amid increased arrivals from producing belts.

However, bajra, maize and barley ended higher on increased demand from consuming industries.

Traders said fall in demand at existing higher levels against increased supplies from producing regions mainly led to fall in wholesale rice basmati prices.

They said increased demand from consuming industries against limited arrivals helped rise in bajra, maize and barley prices.

In the national capital, rice basmati common and Pusa-1121 met with resistance at existing higher levels and lost Rs 100 each at Rs 6,800-6,900 and Rs 6,400-7,000 per quintal, respectively.

Other bold grains like, bajra shot up by Rs 45 to Rs 1,400-1,405 per quintal.

Maize and barley also moved up by Rs 10 and Rs 20 to Rs 1,510-1,540 and Rs 1,450-1,460 per quintal respectively.

However, jowar yellow and white moved in a narrow range in scattered deals and settled around previous levels of Rs 1,425-1,450 and Rs 2,250-2,450 per quintal respectively.

PULSES: Mixed conditions prevailed on the wholesale pulses market during the past week as select pulses rose on retailers demand, while a few other remained weak on adequate supplies.

Traders said scattered demand from retailers mainly led to rise in select wholesale pulses, while adequate supplies from producing regions kept pressure on other pulses.

In the national capital, urad and its dal chilka local rose by Rs 50 and Rs 25 to Rs 3,400-3,900 and Rs 4,400-4,750 per quintal, respectively, on retailers demand.

Masoor small and bold which remained steady for the major part of week, turned costlier by Rs 25 each to Rs 3,625-3,825 and Rs 3,775-3,975 per quintal, respectively, on late buying.

Its dal local and best quality followed suit and ended higher by the same margin to Rs 4,325-4,425 and Rs 4,425-4,525 per quintal, respectively.

Malka local and best, after remaining steady for the major part of week, found fag-end buying from retailers and finished higher by Rs 25 each at Rs 4,025-4,125 and Rs

4,225-4,325 per, quintal, respectively.

On the other hand, gram, gramdal local and best quality were down by Rs 200 each to Rs 3,800-4,300, Rs 4,400-4,500 and Rs 4,700-4,800 per quintal respectively. Besin Shaktibhog and Rajdhani followed suit and eased to Rs 1,850 each per 35 kg from previous level of Rs 1,870.

Rajmah chitra weakened by Rs 100 to Rs 7,000-8,000, while kabli gram small variety eased to Rs 4,000-6,300 against last close of Rs 4,100-6,600 per quintal respectively.