Comments
Groundnut oil gained Rs 15 a tin due to lower availability of nuts for crushing and lower arrivals. Moreover, delay in rain in production area and less sowing in the State have added to the bullish morale .
A miller said, “Groundnut arrival is very weak and it is divided among peanuts trade and crushers. But mills are getting very low stock of the groundnut which pushed up the groundnut oil price in recent time.”
With price rise, demand in groundnut oil is also declining. According to edible oil traders in retail market, demand for groundnut is quite below the normal trend as prices have gone up.
Groundnut oil loose traded higher by Rs 15 to Rs 1,220-1,225 for 10-kg while groundnut oil new tin for 15-kg increased Rs 15 to Rs 2,065-2,070. About 20-30 tonnes of groundnut oil were traded in mills.
About 5,000-6,000 bags groundnut arrived in Saurashtra and quoted Rs 860-1,050 for 20 kg.
On the other hand, cotton oil price declined due to poor demand. During last week, cotton oil price went up Rs 30 a tin due to lower cotton seed availability. Cotton oil declined Rs 10 to Rs 1,230-1,240 for 15-kg tin and cotton oil wash was down Rs 7-8 to Rs 617-620 for 10 kg.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.