Ahmedabad, March 12 (Commoditiescontrol): Groundnut prices registered minor gains in the Gondal market today, supported by a slight increase in groundnut oil prices resulting from export demand and an overall rise in other vegetable oils like palm and soybean. Traders attribute the increase in groundnut oil prices to export demand for lower quality in small quantities and a slowdown in supply due to the closure of most crushing mills.
While demand for groundnut oil could further support prices in the coming days, traders are concerned about the increased infestation of insects in groundnut due to rising temperatures. This could lead to increased selling as the heat intensifies.
Today, the Gondal Mandi saw an arrival of 10,367 bags (1 bag = 35 kg). Average quality groundnuts were priced at Rs 1191-1271 per 20 kg, while the best quality fetched Rs 1226-1321. The Rajkot Mandi saw an arrival of 13,000 bags, with average quality priced at Rs 1030-1240 and the best quality at Rs 1065-1310 per 20 kg. Overall, the arrival of groundnut in Saurashtra today was around 30,000 bags.
(By Commoditiescontrol Bureau; +91-9820130172)
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