Ahmedabad, April 19 (Commodity Control): Renewed trading in peanut oil has bolstered the Gujarat peanut market, leading to a price increase of Rs 20 per 20 kg within the last two days. Today, prices increased further by Rs 5-10 per 20 kg.
Traders attribute this positive shift to significant trades in Jamnagar and Gondal, where loose peanut oil volumes reached 100 tonnes each. Additionally, branded oil companies traded a combined total of 800 tonnes.
Loose peanut oil prices currently stand at Rs 1450-1475 per 10 kg. Market analysts suggest that a further surge is likely if prices surpass Rs 1500. However, sustained demand for peanut oil is crucial to maintain this upward trend. Currently, export trade remains limited.
Market Snapshot:
Gondal: Arrival of 13211 bags (35kg each). Average quality: Rs 1166-1276 per 20 kg. Best quality: Rs 1216-1361 per 20 kg.
Rajkot: Arrivals of 8000 bags, 4000 pending. Average quality: Rs 1130-1245 per 20 kg. Best quality: Rs 1115-1326 per 20 kg.
Saurashtra: Total arrivals estimated at 25000-27000 bags.
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