Edible oils remains lower on subdued demand

Sentiment remained weak as palm oil fell to a two-year low,after Malaysia said production may rise in 2013 to match a record,boosting global cooking-oil supplies. Meanwhile,palm oil for the December-delivery declined to close at USD 832 a tonne on the Malaysia Derivatives Exchange,the lowest level since September 2010.

In addition,subdued domestic demand at prevailing higher levels against adequate stocks position further dampened the trading sentiment,traders said.

In the national capital,groundnut mill delivery oil (Gujarat) declined by Rs 100 to Rs 11,800 per quintal on adequate supplies,while groundnut solvent refined shed Rs 50 at Rs 1,900-1,950 per tin.

Mustard expeller (Dadri),sesame oils fell further by Rs 100 and Rs 50 to Rs 8,100 and Rs 8,550,while cottonseed mill delivery (Haryana) oils which remained steady for the major part of week lost Rs 150 at Rs 7,050 per quintal,respectively.

Coconut oil declined by Rs 100 to Rs 1,300-1,350 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 150 each to Rs 7,450 and Rs 7,050 and crude palm oil (ex-kandla) traded lower by similar margin to Rs 7,250 per quintal,respectively,on weak global cues.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and dropped by Rs 200 each to Rs 7,550 and Rs 7,100 per quintal,respectively.

In the non-edible section,linseed and neem oils fell by Rs 50 each to Rs 5,650 and Rs 4,500-4,600 per quintal on reduced offtake by industrial units and allied industries.

Castor oil shed Rs 50 at Rs 8,550-8,650 per quintal.

Grains: Weak conditions developed in the wholesale grains market during the week under review as wheat and other bold grain prices fell moderately on adequate stocks against.

Marketmen said increased stocks following higher arrivals from producing belts against reduced offtake by flour mills and stockists mainly pulled down wheat and other bold grain prices.

Meanwhile,the government is selling wheat from its godowns at a subsidised rate of Rs 12.85 per kg to bulk users like flour millers under the open market sale scheme (OMSS) to check prices and improve stocks in the market.

In the national capital,wheat dara (for mills) fell by Rs 70 to Rs 1,470-1,475,while wheat deshi shed Rs 50 to Rs 1,950-2,150 per quintal,respectively,on increased supplies.

Atta chakki delivery followed suit and lost Rs 70 at Rs 1,475-1,480 per 90 kg.

Atta flour mills,maida and sooji were also eased to Rs 810-830,Rs 900-910 and Rs 960-980 against last close of Rs 830-850,Rs 910-920 and Rs 970-990 per 50 kg, respectively.

Other bold grains like,bajra and maize fell by Rs 55 each to Rs 1,190-1,200 and Rs 1,280-1,290 per quintal,respectively.

Jowar yellow and white weakened by Rs 25 each to Rs 1,325-1,350 and Rs 2,175- 2,275 per quintal,respectively. Barley too traded lower by Rs 30 to Rs 1,300-1,310 per quintal.

Pulses: The wholesale pulses market remained bearish during the week under review as pulses,led by urad and moong,drifted on increased selling by stockists following sluggish demand against adequate supplies.

Traders said sustained selling by stockists on the back of sluggish demand against adequate stocks position mainly mainly kept pressure on pulses.

In the national capital,urad remained weak and traded lower at Rs 3,600-3,850 from previous level of Rs 3,800-4,100 per quintal.

Its dal chilka local,best quality and dhoya were down by Rs 200 each to Rs 4,300-4,600,Rs 4,800-5,300 and Rs 5,200-5,300 per quintal,respectively.

Moong and moong dal chilka local declined by Rs 200 and Rs 100 to Rs 4,600-5,100 and Rs 5,050-5,450 per quintal,respectively. Moong dal dhoya local and best quality dropped by Rs 200 each to Rs 5,450-5,550 and Rs 6,150-6,250 per quintal,respectively.

Masoor small and bold fell by Rs 150 each to Rs 3,650-3,850 and Rs 3,800-4,000 per quintal,respectively. Its dal local and best quality lost Rs 200 each to Rs 4,400-4,500 and Rs 4,500-4,600 per quintal,respectively.

Malka local and best quality declined by Rs 100 each at Rs 4,100-4,200 and Rs 4,300-4,400,respectively. Kabli gram small variety lost Rs 200 at Rs 5,000-8,500 per quintal.