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Groundnut oil price dropped as demand from brands and stockists slackened due to poor retail buying. On the other side, cotton oil gained on strong demand. Traders said that demand in groundnut oil was weak, while production in oil mills was high as availability of raw material for crushing was good. Prices may fall further. Groundnut oil loose was ₹5 lower at ₹970-975 per 10 kg. Jamnagar line telia tin was ₹1,502-1,503 per 15 kg. Groundnut oil new tin lost ₹10 to ₹1,715-20 per 15 kg. About two tankers of groundnut oil traded in Saurashtra’s oil mills. Cotton oil traders said that short supply of seed pushed up prices. Washed cotton oil was up ₹3 to ₹550-553 per 10 kg. New tin gained ₹10 to ₹895-900 per 15 kg. About 80 tankers of cotton oil traded here.
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