Commodities

Groundnut oil heats up on limited supply

Our Correspondent Rajkot | Updated on August 14, 2012 Published on August 14, 2012

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On the back of lower arrival of groundnut, price of groundnut oil was increased Rs 20 for 15-kg tin. Cotton oil, however, remained unchanged on Tuesday.

According to millers, arrival of groundnut has drastically declined as farmers do not have enough stock. Moreover, traders and stockists are covering it expecting export demand in future.

Groundnut oil loose was traded up by Rs 1,235-1,240 for 10 kg, groundnut oil new tin increased Rs 20 to Rs 2,055-2,060 for15 kg and telia tin gained Rs 30 to 1,894-1,895 for 15 kg. About 80-100 tonnes groundnut oil were traded in Saurashtra mills.

About 4,000-5,000 bags of groundnut arrived in Gujarat mainly at Rajkot and Gondal, quoting Rs 1,000-1150 for 20 kg.

Cotton oil was traded at Rs 1,220-1,230 for 15 kg, cotton oil wash rose to Rs 710-713 per 10 kg. About 150-200 tonnes cotton oil were traded in Saurashtra.

An oil miller said, “We have no stock of groundnut for crushing that’s why price of groundnut oil is gaining and it may continue in coming days. With this weak sowing, monsoon deficit also has affected the crop .”

Published on August 14, 2012
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