Slack demand drags groundnut oil

Our Correspondent Rajkot | Updated on January 28, 2014 Published on January 28, 2014

Following a drop in demand, groundnut oil and cotton oil decreased on Tuesday. Higher inventories in mills also put pressure on these oils.

Groundnut oil loose declined Rs 5 to Rs 735-740 for 10 kg, telia tin was down by Rs 8 at Rs 1,150-1,151 for 15 kg. With demand being normal in retail market, groundnut oil new tin remained unchanged at Rs 1,370-1,375. Some 5-7 tankers of groundnut oil were traded against previous day’s 8-10 tankers.

Similarly, cotton oil wash lost Rs 8 to Rs 587-590 for 10 kg in Rajkot. About 15-20 tankers of cotton oil were traded in Saurashtra mills.

According to traders, groundnut oil may decrease further in this week as there is no hope for gain in demand.

Published on January 28, 2014
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