Commodities

Groundnut oil stable on adequate supply

Our Correspondent Rajkot | Updated on February 22, 2011 Published on February 22, 2011

BL23_COM2_GROUNDNUT

Groundnut and cotton seed oil remained stable in Gujarat on sufficient supply to meet demand.

At Rajkot groundnut oil loose was traded at Rs 740-745 for 10 kg, in Jamnagar and Gondal it was Rs 755 for 10 kg. Groundnut oil new tin price was Rs 1,275-1,280 for 15-kg.

In Mumbai Commodity Exchange, groundnut oil spot rate was unchanged at Rs 755 for 10 kg. About 35,000-40,000 bags of 50-kg groundnut arrived in Saurashtra region and the price was Rs 545-639 for small and Rs 470-621 for bold (per 20 kg).

Similarly, cotton seed oil was seen at Rs 587-590 for 10 kg with a gain of Rs 5 in Rajkot, while cotton seed oil new tin of 15-kg was traded at Rs 1,010-1,020.

According to traders, at present only retailers are buying limited quantity for home use and as such , there is no huge demand. So prices are stable and will not go up in near term.

Rajkot-based oil miller said, “Demand is limited and supply is sufficient so that groundnut oil remain unchanged in present days. Moreover, availability of groundnut is also enough for crushing so in coming days' price will remain stable.”

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Published on February 22, 2011
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