16/05/2011 (Hindu Business Line) - Select edible oil prices recovered at the wholesale oils and oilseeds market during the week on buying by vanaspati millers, driven by ongoing marriage season amid a firming global trend.

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

Trading sentiment turned better after palm oil advanced to the highest in two weeks in Malaysia as crude oil and soyabeans climbed up.

Meanwhile, palm oil advanced 2.5 per cent this week to $1,089 a tonne on the Malaysia Derivatives Exchange, the highest since April 28.

Besides, pick-up in retailers demand in view of ongoing marriage season further supported the uptrend in edible oil prices.

In the edible section, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 90 each to Rs 6,170 and Rs 5,820, respectively, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,270 per quintal.

Sesame mill delivery and cottonseed mill delivery (Haryana) oils traded higher by Rs 20 each to Rs 6,200 and Rs 5,470 per quintal, respectively.

Palmolein (rbd) and palmolein (kandla) oils also jumped up by Rs 140 each to Rs 5,840 and Rs 5,540 per quintal, respectively.

However, groundnut mill delivery (Gujarat), oil moved in a tight range on small alternate bouts of trading and settled around previous levels of Rs 8,000, while groundnut solvent refined held steady at Rs 1,350-1,360 per tin, respectively.

GRAINS: In restricted activity, rice basmati declined at the wholesale grains market during the week under review on sluggish demand against adequate supply. However, fag-end buying by flour mills helped wheat dara prices to move up.

Barley and bajra also traded in positive zone on increased industrial demand against slow down in arrivals.

Traders said sluggish demand against adequate stocks kept pressure on rice basmati prices but increased industrial demand against fall in arrivals from the producing belts helped barley and bajra prices to strengthen.

In the rice section, rice basmati common and Pusa-1121 variety declined by Rs 100 each to Rs 5,300-5,400 and Rs 4,200-5,200 per quintal, respectively.

However, rice permal raw, wand, sela and IR-8 were trading in a tight range and settled around the previous levels of Rs 1,825-1,875, Rs 2,000-2,100, Rs 2,100-2,150 and Rs 1,700-1,725 per quintal, respectively.

On the other hand, wheat dara (for mills) which remained stable during the major part of week, found some support from flour mills and gained Rs 10 to Rs 1,175-1,180 per quintal.

Atta chakki delivery followed suit and traded higher by Rs 20 to Rs 1,200-1,205 per 90 kg, while maida up by Rs 20 to Rs 720-750 per 50 kg.

On the other hand, bajra moved up by Rs 10 to Rs 1,020-1,030, while barley shot up by Rs 75 to Rs 1,375-1,400 per quintal on increased demand from consuming industries.