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On the back of poor retail demand, prices of groundnut oil declined by Rs 15 a tin on Tuesday. However, cottonseed oil price was up marginally.
Groundnut oil traded at Rs 2,040-2,045 for 15-kg tin, down by Rs 15. Telia tin stood at Rs 1,820-1,821 for 15 kg and loose groundnut oil was quoted Rs 1,185-1,190 for 10 kg. About 20-30 tonnes of groundnut oil were traded from Saurashtra mills.
About 10,000-12,000 bags of groundnut arrived in Saurashtra and price stood at Rs 750-1,100 for 20 kg.
On the other hand, cotton oil prices gained a tad on normal demand. Cotton oil rose byRs 5 to Rs 1,150-1160 for 15 kg tin and cotton oil wash traded at Rs 677-680 for 10 kg.
A Gondal-based miller said, “ Demand in groundnut oil is very poor as price has gained too much in last week. However, from today some buyers have started to enter the market and in the coming days price will not increase as mills have enough groundnut stock to crush.”
According to a Rajkot-based edible oil retailer, people prefer cotton oil to groundnut oil as it is cheaper.
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