Weak demand softens groundnut oil

As demand reduced at the higher level, groundnut oil price moved down at both wholesale and retail markets on Tuesday. Cotton oil also traded down as price of cottonseed decreased. Traders said that demand was down during past couple of days as price had gone up which pressurised the groundnut oil price buying from local brand and stockists was slow. Groundnut oil loose declined ₹20 to ₹915-920 per 10 kg, Jamnagar line teliya tin was down by ₹30 to ₹1,420-1,421 per 15 kg. About three tankers of groundnut oil were traded in Saurashtra’s mills. Washed cotton oil lost ₹2 to ₹548-551 per 10 kg and groundnut oil new tin was quoted unchanged at ₹990-1,010 per 15 kg. About 25 tankers of cotton oil were traded in Saurashtra .