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As demand from local brands and in retail market was poor, price of groundnut oil traded below ₹1,800 per tin after a long time. On the other side, cotton oil was marginally up on short supply of the seed for crushing. Moreover, increasing arrival of new groundnut also pressurised the oil price.
Groundnut oil loose declined by ₹5 to ₹920-925 per 10 kg, Jamnagar line teliya tin was down by ₹30 to ₹ 1,427-1,428 per 15 kg. Groundnut oil new tin lost ₹40 to ₹1,745-1,750 per 15 kg.
According to traders, festival demand may end this month but before that, price of the oil may move down. Buyers are waiting for more fall in the price. Washed cotton oil gained ₹5 to ₹600-603 per 10 kg on short supply.
Cotton oil new tin was unchanged at ₹1,040-1,060 per 15 kg. About 10-12 tankers of cotton oil were traded here.
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