Agri Business

Demand holds groundnut oil steady

Our Correspondent Rajkot | Updated on May 10, 2011 Published on May 10, 2011

On the back of sustainable demand, groundnut oil remained unchanged in Gujarat, while cotton oil increased by Rs 5 for a tin.

Groundnut oil ruled at Rs 1,385-1390 for the 15 kg new tin. “Loose” groundnut oil was traded at Rs 805-810 for 10 kg and price of label tin of 15 kg was Rs 1365-1370. On the other hand, cotton oil increased by Rs 5 to Rs 995-1,005 for 15-kg new tin. For 10 kg, it was Rs 925-930, with a gain of Rs 5. About 8-10 tankers of 10 tonnes were traded in groundnut oil and 50-55 tankers traded in cotton oil.

Demand in groundnut oil is normal. Retailers buy as per requirement, which keeps the prices stable, traders said.

Summer groundnut crop is ready to arrive in market. Arrival has started in some centres of the Saurashtra region. Traders estimated 2-2.5 lakh tonnes of groundnut production in Gujarat.

Mr Samir Shah of Rajkot-based Rajmoti Oil Industries said: “There will not be any major impact on the prices of the summer crop. Against it, prices will increase as the new crop will trade on a higher level.”

The price of groundnut is ruling at Rs 690-711 for 20 kg and the new crop price is quoted at Rs 595-600 for 20 kg. About 25,000 bags arrive in various APMC of Saurashtra.

Published on May 10, 2011
This article is closed for comments.
Please Email the Editor