ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Decline In Oilseeds Reversed

Divergent conditions prevailed in the oils and oilseeds market.The downtrend noticed in groundnut and groundnut oil in August was reversed and there was a rise in prices in all the trading centres. The reversal was understandable.Prices of groundnut oil had declined sizably in the second half of August. This led to the expectation that prices would not move down any further. As a result, buyers — retailers as well as vanaspati interests — who had been on the sidelines all along, turned active, pushing up the market in the process.

Divergent conditions prevailed in the oils and oilseeds market.The downtrend noticed in groundnut and groundnut oil in August was reversed and there was a rise in prices in all the trading centres. The reversal was understandable.Prices of groundnut oil had declined sizably in the second half of August. This led to the expectation that prices would not move down any further. As a result, buyers — retailers as well as vanaspati interests — who had been on the sidelines all along, turned active, pushing up the market in the process.

Moreover, stocks of oil and nuts have been extremely low and it will be at least two to three weeks before the new crop moves into the market. Even the small quantities that were due in the Bombay market from the interior of the State and from Mysore were not received owing to heavy rains which affected the inflow of the crop.

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