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Groundnut oil prices remain unchanged on Tuesday in the Saurashtra region as demand has petered out in the last couple fo days.
Groundnut oil was quoted at Rs 1,290-1,295 for a 15 kg new tin in Rajkot, while loose groundnut was traded at Rs 740-745 for a 10 kg tin.
According to a Rajkot-based trader, a negative trend has been prevailing in vegetable oil prices for the past 3-4 days on drop in demand after prices increased last week.
Now, the price has stabilised and demand is seen to be normal. This week, groundnut oil price has decreased over Rs 25 for a 15 kg new tin.
Loose groundnut oil price has also dropped by Rs 20 in a week as branded companies have slowed buying in the Saurashtra region. Along with groundnut oil, cotton oil also decreased in the last couple of days.
cotton oil
Cotton oil was traded at Rs 975-Rs 985 for a 15 kg new tin, while cotton wash was traded at Rs 560-Rs 565/ 10 kg.
The daily trading of groundnut oil has decreased from 17-18 tankers to 12-14 tankers (each 10 tonnes).
Similarly, cotton oil trading has dropped to 7-8 tankers from 10-11 tankers.
Traders said that retail buyers are waiting for further fall in prices. The demand for groundnut oil in the market is subdued at present.
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