Agri Business

Groundnut oil stable on ample supply

Our Bureau Rajkot | Updated on January 25, 2011


A mixed trend was seen in edible oil market in Saurashtra and Gujarat here on Tuesday. Groundnut oil price ruled stable with normal buying while cotton oil price increased slightly.

At Rajkot, groundnut oil prices ruled stable at Rs1,295-1,300 for a 15-kg tin, and Rs 1,190-1,195 for a 15-litre tin. Loose groundnut oil traded at Rs 745-750 with a gain of Rs 5 for 10 kg. About 25-30 tankers were traded in groundnut oil.

According to a retailer, groundnut oil demand is normal at present and supply is sufficient to fulfil the demand and hence prices will not increase.

On the other hand, cotton oil increased by Rs 5 a tin. Cotton oil was traded at Rs 990-1,000 for a 15-kg tin and Rs 935-940 for a 15-litre tin. Cotton wash price were Rs 745-750 for a 10 kg.

Traders said, “Cotton market is increasing and is supporting the cotton oil prices.”

According to Saurashtra-based millers, compared to last week, groundnut oil price has increased just Rs 5 a tin but easy availability of groundnut for crushing pushed up the supply during the week. This trend is likely to continue in the coming days. In Andhra Pradesh, higher arrivals resulted in groundnut prices dropping Rs 200 a quintal. In Dharmavaram and other Agricultural Produce Marketing Committee yard in Anantapur district, the price for the TMV-2 variety slid to Rs 2,500 a quintal on Tuesday.

Published on January 21, 2011

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