24/12/2012 (Financial Express) - Edible oils rebounded to trade higher in the wholesale oils and oilseeds market during the past week on revival of buying by vanaspati millers and retailers amid a a firming global trend. A few oils in the non-edible section, also showed strength on increased offtake by consuming industries.

Traders said trading sentiment turned better as palm oil climbed to the highest level in more than three weeks in global markets after data signaled a recovery in the US economy, boosting prospects for demand.

Meanwhile, palm oil futures gained 5.9 per cent this week on the Malaysia Derivatives Exchange, the highest price since November 27.

In the national capital, groundnut mill delivery oil (Gujarat) climbed by Rs 250 to Rs 12,250 per quintal on day-to-day increased demand from retailers. Groundnut solvent refined oil gained Rs 50 to Rs 2,000-2,050 per tin.

Mustard expeller oil (Dadri) rose by Rs 50 to Rs 8,400 per quintal on local demand. Sesame and cottonseed mill delivery (Haryana) oils moved up by Rs 250 and Rs 70 to Rs 9,000 and Rs 6,950 per quintal, respectively.

Taking positive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 50 each to Rs 7,150 and Rs 6,700 per quintal.

Palmolein (rbd) and Palmolein (Kandla) oils followed suit and traded higher by the same margin to Rs 7,200 and Rs 6,700 per quintal, respectively.

In the non-edible section, linseed oil found fresh buying support from paint's industries and shot up by Rs 100 to Rs 6,000 per quintal. Neem oil rose by Rs 50 to Rs 4,700-4,800 per quintal on increased offtake by soap's industries.

Grains: Prices of rice basmati and other bold grains firmed up on the wholesale grains market during the past week on emergence of stockists buying driven by pick up in demand.

However, wheat declined on reduced offtake by flour mills against adequate stocks position on increased arrivals.

Traders said emergence of stockists buying on the back of a rise in demand from retailers mainly pushed up wholesale rice basmati prices.

They said increased industrial demand against restricted arrivals from producing belts mainly attributed rise in other bold grain prices. Adequate stocks position against reduced offtake by flour mills kept pressure on wheat prices, they added.

In the rice section, rice basmati common and Pusa-1121 variety ended higher at Rs 6,400-6,500 and Rs 5,800-6,300 against last close of Rs 5,650-5,850 and Rs 5,600-5,700 per quintal.  Other bold grains like bajra rose by Rs 30 to Rs 1,340- 1,345, while jowar yellow and white traded higher by Rs 50 each to Rs 1,400-1,410 and Rs 2,200-2,400 per quintal, respectively.

On the other hand, wheat dara (for mills) declined by Rs 15 to Rs 1,575-1,580 per quintal, while atta chakki delivery shed Rs 5 at Rs 1,580-1,585 per 90 kg. Atta flour mills and sooji were eased to Rs 840-850 and Rs 930-950 against last close of Rs 860-880 and Rs 980-990 per 50 kg, respectively.

Pulses: Mixed conditions developed on the wholesale pulses market during the past week as select pulses led by kabli gram drifted on sluggish demand at prevailing higher levels while a few other met with selective buying and ended higher.

Traders said sluggish demand at prevailing higher levels against adequate stocks position mainly pulled down select pulses.

Selective buying by retailers helped a few other to trade marginally higher, they said.

In the national capital, kabli gram small dipped to Rs 4,000-6,500 from previous level of Rs 4600-7400 per quintal.

Gram also fell by Rs 405 to Rs 4,000-5,000, while its dal local and best quality eased to Rs 5,000-5,100 and Rs 5,300-5,400 against last close of Rs 5505-5,605 and Rs 5,800-5,900 per quintal re spectively. Besin Shaktibhog and Rajdhani followed suit and traded lower at Rs 1,910 each against last close of Rs 2,060 per 35 kg bag.

Lobia moved down by Rs 300 to Rs 3,300-3,700 and peas white and green shed Rs 50 each at Rs 2,750-2,775 and Rs 2,850-2,950 per quintal, respectively.

On the other hand, moth rose by Rs 200 to Rs 4,000-4,300 per quintal. Masoor small and bold gained Rs 30 each to Rs 3,500-3700 and Rs 3650-3850 and its dal local and best quality rose by Rs 130 and Rs 150 to Rs 4,200-4,300 and Rs 4,300-4,400  per quintal, respectively.

Malka local and best quality which held steady for the major part of week, met with fag-end buying and ended higher by Rs 100 each to Rs 3,900-4,000 and Rs 4,100- 4,200 per quintal.

Dry fruits: Firm conditions continued to prevail on the wholesale dry fruits market during the week with almond and pistachio prices rising on the back of pick-up in retailers and stockists demand, driven by ongoing seasonal demand.

Tight stock positions following restricted arrivals from producing regions and overseas markets also influenced the prices.

Trading sentiment was bosltered mostly on increased offtake by stockists and retailers to rising seasonal demand.

Almond (California) rose by Rs 100 to Rs 13,500 per 40 kg, while its kernel went up by Rs 5 to Rs 475-490 per kg.

Almond gurbani and girdhi prices also higher by Rs 100 at Rs 7,100-7,700 and Rs 3,300-3,900 per 40 kg, respectively.

Cashew kernel No 180, No 210, No 240 and No 320 rose by Rs 10 each to conclude at Rs 705-760, Rs 680-700, Rs 600-620 and Rs 520-570 per kg, respectively.

Copra traded higher at Rs 6,300-6,600 against previous closing of Rs 6,200-6,500 per quintal.

Coconut powder prices rose by Rs 100 to finish at Rs 1,800-2,200 per 25 kg.

Dry dates-red prices traded higher at Rs 2,900-9,200 against previous closing of Rs 2,800-9,000 per quintal.

Pistachio- Irani, hairati and peshwari rose by Rs 10 each to conclude at Rs 820-950, Rs 780-860 and Rs 1,030-1,060 per kg, respectively.

Walnut and its kernel prices also higher by Rs 10 to settled at Rs 200-310 and Rs 560-860 per kg.

Kirana: In a mixed pattern of trading, select spices- red chilli and jeera - looked up in the national capital during the week on reports of a likely fall in output amid speculative buying, registering fresh gains.

However, pepper and cardamom turned weak on lack of buying interest and gave up some grounds.

Red chilli prices surged by Rs 300 to conclude at Rs 6,600-12,100 per quintal on firm demand from the overseas buyers along with lower output concerns.

Jeera common and jeera best quality traded higher at Rs 14,800-15,000 and Rs 17,800-18,300 against previous closing of Rs 14,700-14,900 and Rs 17,600-18,100per quintal, respect vely on reports of sowing operations are lagging behind in parts of Gujarat.

Turmeric prices increased by Rs 100 to conclude at Rs 6,600-9,800 per quintal on reports of area under turmeric cultivation is lower this year due to scant rainfall during the planting season but higher carry-forward stocks are expected to keep supplies firm.

Poppyseed (Turkey, MP-RAJ and kashmiri) prices also rose up to Rs 20 to settled at Rs 330-345, 330-395 and Rs 340 per kg, respectively.

On the other hand, black pepper prices traded lower at Rs 410-545 against previous closing of Rs 415-550 per kg, on reduced offtake by exporters.

Cardamom brown (Jhundiwali) declined by Rs 20 to close at Rs 800-900 and cardamom small varieties such as chitridar, colour robin, bold and extra bold also fell up to Rs 10 to finish at Rs 740-870, Rs 730-880, Rs 740-840 and Rs 950-1,050 per kg, respectively.

Nutmeg prices traded lower at Rs 750-780 as compared with Rs 760-790 per kg.

Tamarind and its without-seed prices also traded lower at Rs 2,100-2,500 and Rs 3,800-6,000 as compared with Rs 2,200-2,700 and Rs 4,000-6,500 per quintal, respectively.