Groundnut oil rose Rs 50 for a 15 kg tin on the back of expected export demand. It has jumped by Rs 200 in the past three days after the Union Government’s decision to allow export of edible oil in consumer packs.
Groundnut oil loose gained Rs 30 at Rs 1,170-1,175 for 10 kg. New groundnut oil tin for 15 kg was traded higher by Rs 50 at Rs 1,945-1,950.
Arrivals of groundnut stood at 5,000 bags in Rajkot and offered at Rs 950-1,100 while arrivals in Jamnagar stood at 450 bags and offered at 716-915 and Gondal recorded 700 bags and quoted at Rs 950-1,050 for 20 kg.
HPS jawa quality 80-90 discount was offered at 77,000 a tonne.
“Groundnut oil export was restricted for last one year and after recent permission, we are expecting good demand from overseas markets. As the festival time is set to begin, we expect retail demand to come up soon in the market,” said an oil miller.