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On the back of increasing demand, groundnut oil increased Rs 10 and cotton seed oil increased Rs 20 a tin, as cotton touched a new high in Gujarat.
At Rajkot Saurashtra, groundnut oil loose gained Rs 5 to Rs 750 for 10 kg, groundnut oil 15 kg new tin increased Rs 10 to Rs 1,300-1,305 on Wednesday. It increased by Rs 30 in the last nine days. Similarly, cotton seed oil also jumped Rs 20 to Rs 1,040-1,050 for 15 kg new tin. Cotton wash gained Rs 8 to Rs 605 to 608 for 10 kg. Cotton seed oil increased Rs 40 a tin this Month.
New brands
According to retailers, some demand comes in the groundnut oil during past few days. Moreover, brands are also entering in the market. “Price may go forward more in coming days but it will be in limited range,” said retailers.
Demand perking up
A Rajkot-based miller said, “Demand in cotton oil is normal but the oil is increasing slowly as cotton price is reaching to new high.”
Cotton price reached Rs 55,000-56,000 per candy of 356 kg and raw cotton was traded at Rs 1,300 for 20 kg in Gujarat. It supports cotton seed oil to lift up.
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