Agri Business

Gujarat stock limit order drags groundnut oil

Our Correspondent Rajkot | Updated on November 15, 2017 Published on April 10, 2012

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Groundnut oil declined by Rs 10 for 15-kg tin after the Gujarat Government put a stock limit on millers and groundnut traders.A 15-kg oil tin was down Rs 10 to Rs 2,065-2,070, a 15-kg telia tin was at Rs 1,855-1,856 and loose oil was traded at Rs 1,210-1,215 for 10 kg. There was no trading in groundnut oil on Tuesday.

Cotton oil ruled stable here. Cotton oil (wash) was traded at Rs 670-673 for 10 kg and a 15-kg new tin sold at Rs 1,140-1,150. About 200-250 tonnes of cotton oil were traded in Saurashtra.

An edible oil trader said: “With high prices since last two months, demand in groundnut is reducing and at presently demand is almost nil. People are waiting for some price fall.”

Meanwhile to control the rising price of groundnut oil, the Gujarat Government has imposed stock limit for millers and groundnut oil traders with immediate effect.

According to data provided by the Gujarat Agriculture Department 1,77, 000 hectares area have been covered under groundnut crop against 1,14, 000 hectares in 2011 during the same time. Hence, compared with last year summer groundnut sowing in 2012 has increased by 56 per cent.

Published on April 10, 2012
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