Mixed conditions prevailed at the wholesale oils and oilseeds market during the past week as select edible oils strengthened further on sustained buying by vanaspati millers amid a firming global trend, while a few others declined on lack of necessary buying support.

A few oils in the non-edible section also showed a weak trend on sluggish demand from the consuming industries.

Market analysts said sustained buying by vanaspati millers to meet the ongoing marriage season demand and a strong trend overseas, mainly pushed up select edible oil prices.

Palm oil prices gained 1.5 per cent to $1,295 per tonne in Kuala Lumpur this week, after touching the highest level since March 2008. In the national capital, crude palm oil (ex-kandla) gained the most by rising Rs 100 to Rs 5,700 per quintal.

Mustard expeller oil (Dadri) gained Rs 20 to Rs 5920 per quintal on pick-up in local demand. Cottonseed mill delivery (Haryana) and sesame mill delivery oils also attracted fresh buying support from vanaspati millers and traded higher by Rs 20 and Rs 10 to Rs 5,820 and Rs 6,410 per quintal, respectively.

On the other hand, groundnut mill delivery oil (Gujarat) declined by Rs 50 to Rs 7,350 per quintal, while groundnut solvent refined shed Rs 25 to Rs 1,350-1,360 per tin. Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) fell by Rs 100 and Rs 50 to Rs 6,250 and Rs 6,100 per quintal, respectively. Palmolein (rbd) oil also traded lower by Rs 100 to Rs 6,250 per quintal.

In the non-edible section, linseed oil declined by Rs 50 to Rs 4,600 per quintal on lack of paint industries demand. Neem oil slipped to Rs 4,100-4,200 against the last close of Rs 4,150-4,250 per quintal on reduced industrial offtake.

PULSES: Select pulses prices rose at the wholesale pulses market during the past week on sustained buying by stockists and retailers against restricted arrivals.

Market analysts said sustained buying by stockists and retailers to meet the ongoing marriage season demand against restricted arrivals from the producing regions mainly pushed the select pulses prices.

They added that the state-run trading firm PEC Ltd’s plans to import 856 tonnes of pulses for supply in the domestic market partly checked the upsurge and minimised the gains.

Urad and its dal best quality rose by Rs 50 and Rs 100 to Rs 4,250-4,800 and Rs 5,550-5,850 per quintal, respectively. Moong also gained Rs 50 to Rs 4,200-4,600, while its dal chilka local, moong dal dhoya local and best quality were up by Rs 200 each to Rs 5,250-5,650, Rs 5,500-5,700 and Rs 6,000-6,200 per quintal, respectively.

Gram, and its dal local and best quality too traded in a positive zone with a rise of Rs 100 each to Rs 2,700-2,725, Rs 2,950-2,965 and Rs 3,050-3,150 per quintal, respectively. In line with a general firming trend, peas white and green prices also moved up by Rs 200 each to Rs 2,200-2,300 and Rs 2,300-2,500 per quintal, respectively.

DRY FRUITS: Almond and walnut prices rose smartly at the dry fruits market during the past week on brisk buying by stockists and retailers for the ongoing marriage season influenced by higher advices from the producing regions.

However, pistachio lacked necessary buying support amid increased arrivals and closed with losses.

Traders said heavy buying by stockists and retailers to meet the ongoing marriage season demand and higher producing region advices mainly pushed up almond and walnut prices.

Almond (California) spurted by Rs 600 to Rs 10,300 per 40 kg. It kernel also shot up by Rs 11 to Rs 361-366 per kg. Walnut was also seen in demand and advanced by Rs 15 to Rs 200-265 per 40 kg, while it traded higher by the same margin at Rs 490-740 per kg.

On the other hand, pistachio Peshwari and Hairati were down by Rs 50 and Rs 10 to Rs 1,300-1,350 and Rs 1,050-1,175 per kg, respectively.

Related Topics
comment COMMENT NOW