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Correction in rival oils weighing on groundnut oil prices
Published on: May 03 2023, 04:55
On Wednesday, Groundnut bold premium at Rajkot market traded at INR 7,210/Qtl. In last few days groundnut seed prices has declined by 8-10% and groundnut oil prices has corrected by 6-8% amid declining other edible oil prices such as mustard oil, palm oil and soy oil. In upcomingdays,Groundnutaverage prices islikelytotraderange bound intherangeofINR 7,000-7,500/Qtl in short run amid correction in groundnut oil prices.
Groundnut oil demand is being substituted to the discounted edible oils which is weighing on groundnut oil prices.
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