Commodities

Groundnut steady on tepid demand

Our Correspondent Rajkot | Updated on March 16, 2011

groundnut





Groundnut oil remained unchanged on tepid demand. Cotton seed oil increased nominally by Rs 5 a tin in Gujarat.

Groundnut loose for 10 kg was traded at Rs 735-740. Groundnut oil for a 15-kg new tin was at Rs 1,270-1,275 and for a telia tin at Rs 1,144-1,145 for 15 kg. Cotton seed oil (wash) sold at Rs 552-555 for 10 kg, cotton seed oil for a 15-kg new tin increased Rs 5 to Rs 970-980 and for a 15 litre-tin was traded at Rs 915-920 in Rajkot.

A Rajkot-based miller said, “Currently, groundnut oil is sustaining on retail demand. Moreover enough raw material is available, so price will remain at this level.”

Momemtary rise

Cotton seed oil has increased slowly, as raw cotton supply is low. But market men said it was a momentary rise. Price may reduce as demand is nominal for cotton seed oil.

According to the Agriculture Ministry, so far summer groundnut sowing has covered 8.62 lakh hectares. Last year, it was 9.94 lakh hectares for this period. In Saurashtra, sowing has doubled from 35,531 hectares to 71,110 hectares so far.

Published on March 16, 2011

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