Comments
Groundnut oil traded lower in Rajkot on lack of demand and higher selling interest.
Buyers were reluctant to make fresh purchases due to persistent downtrend.
According to market sources, groundnut oil prices may decline further as demand is unlikely to emerge for now.
On the other hand, cotton oil moved up marginally as demand improved.
Groundnut oil loose was traded lower by Rs 30 at Rs 955-960 for 10 kg, teliya tin decreased by Rs 46 to Rs 1,474-1,475 for 15 kg while groundnut oil new tin declined by Rs 15 to Rs 1,740-1,745.
About 1-2 tankers were traded in groundnut oil.
A Rajkot-based edible oil trader said that retail demand was poor and re-packers and brand manufacturers also were not so active in the market.
On the other hand, lack of export business in peanuts too pressurised the groundnut oil prices as it has increased availability of groundnut for crushing.
Groundnut arrivals were reported at 2,500 bags from Rajkot, 8,000 bags from Gondal and 960 bags from Jamnagar.
HPS Saurashtra origin bold 50-60 count was offered at Rs 72,000 a tonne and Rajasthan origin 50-60 count was offered at 75,000.
Cotton oil wash marginally gained by Rs 2 to Rs 637-640 for 10 kg while cotton oil new tin for 15 kg was traded higher by Rs 5 to Rs 1,115-1,125.
About 35-40 tankers were traded in cotton oil at Saurashtra.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.