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Journalism of Courage
Snapping a three-week long rising streak,edible oils fell in the oils and oilseeds market during the past week on fall in demand at higher levels amid a weak global trend.
However,groundnut and mustard oils found some buying from retailers and ended higher.
Traders said fall in demand at prevailing higher levels and a weak global trend as higher output in Malaysia,the second-largest producer,may further boost record stockpiles of the tropical oil used in food to fuel,influenced the trading sentiment.
Meanwhile,palm oil fell 4.1 per cent this week at USD 817 a tonne on the Malaysia Derivatives Exchange.
In the national capital,mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils fell by Rs 100 each to Rs 8,250 and Rs 7,100 per quintal,respectively,on subdued demand at prevailing higher levels.
Taking negative cues from overseas markets,soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 100 each to Rs 7,550 and Rs 7,150,while crude palm oil (ex-kandla) dipped by Rs 180 to Rs 7,220 per quintal respectively on weak global trend.
Palmolein (rbd) and palmolein (Kandla) oils followed suit and lost Rs 120 each at Rs 7,680 and 7,230 per quintal,respectively.
On the other hand,groundnut mill delivery oil (Gujarat) rose by Rs 50 to Rs 11,950 per quintal.
In the non-edible section,linseed oil moved up by Rs 50 to Rs 5,850 per quintal on increased demand from paint’s industries.
Grains: Firm conditions prevailed in the wholesale grains market during the week with prices of wheat and other bold grains rising on increased buying for the ongoing festive and wedding season demand.
Traders said increased offtake by stockists following rise in demand from flour mills driven by ongoing festive and wedding season mainly pushed up wheat prices.
In the national capital,wheat dara (for mills) climbed to Rs 1,620-1,625 from previous week’s close of Rs 1,570-1,575 per quintal. Atta chakki delivery followed suit and ended higher at Rs 1,625-1,630 against last close of Rs 1,575-1,580 per 90 kg.
Maida and sooji remained steady at Rs 930-950 and Rs 1,020-1,060 per 50 kg respectively on festive demand.
Other bold grains like bajra shot up by Rs 40 to Rs 1,155-1,165 per quintal. Maize and barley also moved up by Rs 5 and Rs 10 to Rs 1,370-1,380 and Rs 1,315-1,340 per quintal respectively.
Pulses: Select pulses,led by rajmah,strengthened at the wholesale market during the past week on strong demand in view of festive season against less arrivals from producing belts.
Traders said strong demand supported by the ongoing festive season and restricted arrivals from producing region mainly pushed up wholesale select pulses.
In the national capital today,rajmah chitra gained the most to settle at Rs 7,500- 10,000 from previous level of Rs 7,000-9,500 per quintal.
Kabli gram small variety also moved up by Rs 50 to Rs 5,050-8,550 per quintal.
In line with a general firming trend,moong and its dal chilka local ended higher at Rs 5,000-5,700 and Rs 5,600-6,000 from previous close of Rs 4,750-5,500 and Rs 5300-5,700 per quintal,respectively.
Moong dal dhoya local and best quality were also finished higher at Rs 6,100-6,200 and Rs 6,800-6,900 per quintal,respectively.
