With shortage of crushing groundnut, price of groundnut oil reached to new high. However, demand is very poor in retail market.
At Rajkot, groundnut stood at Rs 1,795-1,800 per 15-kg tin on Saturday. Loose groundnut was traded at Rs 1,065-1,070 per 10- kg.
Teliya tin remained stable at Rs 1,637-1,638 per 15-kg tin. About 50-70 tonnes of groundnut oil were traded in the Saurashtra region. Arrival of groundnut was down almost 50 per cent to 5,000-6,000 bags from 10,000-12,000 bags. Groundnut bold traded at Rs 755-905 and small price stood at Rs 740-865 per 20-kg on Monday at Rajkot APMC.
Cotton oil up
Cotton oil also ruled high here. It was traded at Rs 1,035-1,045 per 15-kg new tin, and cotton oil wash stood at Rs 582-585 per 10-kg. About 350-300 tonnes of cotton oil were traded.
A trader connected with the Saurashtra Oil Mills Association (SOMA), said, “The prices have also increased because millers are facing a shortage of groundnut for crushing.
“Most of the groundnut is consumed for export at present. Moreover, farmers are holding on to the crop as they want higher prices for their crop.”