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Groundnut and cotton oil traded flat as demand was lower at higher prices.
According to market sources, groundnut oil price may decline in this week as manufacturers of branded oils are inactive. Groundnut oil loose traded at Rs 1,235-1,240 for 10 kg, teliya tin price quoted at Rs 1,894-1,895 for 15 kg and groundnut oil new tin quoted unchanged at Rs 2,095-2,100 for 15 kg.
About 1-2 tankers of groundnut oil were traded by Saurashtra’s mills.
Washed cottonseed oil increased by Rs 5 to Rs 607-610 for 10 kg and cotton oil new tin remained steady at Rs 1,055-1,065 for 15 kg. About 30-35 tankers of cotton oil were traded by the mills.
HPS Saurashtra origin bold 50-60 count groundnut was offered at Rs 75,000-76,000 a tonne, Rajasthan origin 50-60 count at 71,000-72,000 (Ex mill).
Tamil Nadu origin 80-90 count HPS groundnut were offered at Rs 69,000 a tonne (Chennai and Mumbai port delivery). Rajkot-based edible oil trader said that after the rise in prices last week, the demand for groundnut oil declined but prices are still firm.
Once prices come down, brands could start buying. A similar trend was seen in cotton oil also.
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