India Groundnut oil Prices Crash on poor demand

Groundut oil prices have crashed over Rs 230 to Rs 1,215-1,220 for 15 kg in a week. Groundnut price also dropped Rs 50-60 for 20 kg. In Gujarat, groundnut oil loose traded at Rs 700-705 for 10 kg, while 15?kg new tin price was quoted at Rs 1,215-1,220 .

Around 1.25-1.50 lakh bags groundnut arrived in the various mandis of Gujarat. Price of groundnut G-20 is Rs 600-610 and G-2 is traded at Rs 690-700 for 20 kg.

Mixed trend in wheat

With trading being low in the market, prices of dara variety witnessed a downtrend and dropped by Rs 10 a quintal in the last two days.

On Tuesday, dara wheat ruled at Rs 1,240-1,250 a quintal against the levels of 1,250-1,260 quoted last weekend. The fine quality was quoted at Rs 1,270 a quintal. Only 100 quintals of dara variety arrived in the market.

Traders are hopeful that wheat prices will witness a rally of Rs 20-30 a quintal in the coming days as arrivals are low from Uttar Pradesh.

Turmeric inches up

Spot turmeric prices went up slightly, quite opposite to what happened on the futures market.

At the Erode Turmeric Merchants' Association sales yard, the finger variety was sold at Rs 9,309-14,139 a quintal, and the root variety fetched Rs 9,606-13,961 a quintal. Out of 1,469 bags on sale, 413 were sold.

Sugar Commodity slides

Spot prices on the Vashi wholesale sugar market declined Rs 25-35 a quintal in the absence of fresh demand and selling pressure by stockists .

According to the Bombay Sugar Merchants Association, spot rates were: S-grade: Rs 2,700-2,741 (Rs 2,726-2,756) and M-grade Rs 2,720-2,796 (Rs 2,750-2,821).

Naka delivery rates were S-grade: Rs 2,650-2,680 (Rs 2,680-2,700) and M-grade was Rs 2,680-2,720 (Rs 2,720-2,760).

Prices of pulse and pulse seeds continued their downtrend in the mandis .

Pulses witnessed a fall between Rs 25 andRs 150 a quintal asdemand from retailers as well as mill owners slackened. Spot prices: Chana dal was at Rs 2,275; masoor at Rs 3,100; moong at Rs 5,100; urad dal at Rs 5800-6,000 and tur dal(sawa no) at Rs 5,000.