Mumbai, April 25 (Commoditiescontrol): Today, prices remained stable due to limited demand in the face of peanut arrivals. Peanut prices could improve if there is export trade in peanut oil. However, there is less likelihood of a rally in the market right now. Today, prices remained stable due to limited demand in the face of peanut arrivals.
Loose Peanut oil prices are trading at Rs 1450-1460 per 10 kg, but there is no major rally in the market due to lack of local demand. There are no new export deals in peanut oil and Chinese companies are offering at $1770 per tonne, while exporters are asking for $1800, but no deals are happening. If trading takes place at $1800, then there could be a rally in loose oil as well, but till these deals don't happen, traders say there is no chance of a major rally in the peanut oil market, as there is no rally in peanuts either.
Arrivals in Gondal Mandi today were around 12055 bags (1 bag = 35 kg). Prices for average quality were Rs 1181-1276 and for best quality were Rs 1216-1340 per 20 kg.
Arrivals in Rajkot Mandi today were 7000 bags. Prices for average quality were Rs 1130-1262 and for best quality were Rs 1120-1348 per 20 kg. Arrivals of peanuts in Saurashtra today were around 25000 bags.
(By Commoditiescontrol Bureau; +91-9820130172)
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