Mumbai, April 29 (CommoditiesControl): Groundnut prices have experienced positive momentum, gaining Rs 5-10 per 20 kg. This upward trend is attributed to heightened activity in the groundnut oil trade. A recent transaction involving 100 tonnes of loose groundnut oil was finalized at Rs 1460 per 10 kg, settled with advance payment.
Despite ongoing buyer caution regarding quality fluctuations, the demand for high-quality groundnut oil continues to drive the market. Furthermore, the possibility of a spike in groundnut oil exports at a price point of approximately $1800 per tonne has the potential to further reinforce groundnut prices.
Market arrivals of groundnut have stabilized. Gondal Mandi registered an inflow of roughly 15112 sacks (each sack containing 35kg). Groundnuts of average quality were sold at prices within the range of Rs 1191-1436 per 20 kg, while the premium lots commanded prices between Rs 1221-1351 per 20 kg. Rajkot market recorded the arrival of 8500 bags, where average quality groundnut was traded between Rs 1120-1265 per 20 kg, and top-grade commanded Rs 1100-1318 per 20 kg. Overall, Saurashtra region witnessed an estimated groundnut arrival of 27000-30000 bags.
(By Commoditiescontrol Bureau; +91-9820130172)
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