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Local buying and demand for brands kept groundnut oil unchanged. Moreover, high price of groundnut also supported the oil. Demand for cotton oil also lifted its price during the week.
In Rajkot, loose groundnut oil for 10 kg was traded at Rs 830-835, a new 15-kg tin traded at Rs 1,425-1,430 and a new 15-litre tin was at Rs 1,320-1,325. Eight to 10 tankers of 10 tonnes each of groundnut oil were traded.
Cotton oil (wash) for 10 kg was at Rs 620-623 and a new 15-kg tin was traded at Rs 1,050-1,060. Thirty to 35 tankers cotton oil were traded.
Groundnut (bold) was quoted at Rs 550-730 for 20 kg at the agricultural produce market committee here. New groundnut (mini) was traded at Rs 675-760 for 20 kg. Around 40,000 bags of groundnut arrived in Saurashtra.
According to edible oil traders, demand from branded companies is keeping groundnut oil price firm.
The Indian Oilseeds and Produce Export Promotion Council has estimated the summer groundnut production in Gujarat to be at around 2.71 lakh tonnes as against 1.29 lakh tonnes last year, a growth of 110 percent.
According to the survey, groundnut sowing area during the continuing season has increased from 68,000 hectares to 1.21 lakh hectares in Gujarat due to availability of water for irrigation.
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