With the rising prices of major edible oils in the country, groundnut oil is now commanding the highest premium of nearly 40% over the other edible oils such as RBD palmolein and refined soy oil prices.
Groundnut oil raw prices in Mumbai market on Thursday touched a new high of around Rs 745 per 10 kg on increased local demand and reduced supply from Gujarat.
Refined soya oil prices were around Rs 465 per 10 kg and RBD palmolein prices were hovering around Rs 451 per 10 kg on Thursday. ?Groundnut oil always commands premium over other major edible oils but this year level has now gone up to nearly 40% compared to15-20% a year back,? a local broker said. The premium has risen as groundnut oil prices have jumped up by about 52% over past one year compared with RBD palmolein and refined soya oil. RBD palmolein oil prices increased by 11% and refined soya oil prices rose by 18% over past one year.
Groundnut oil prices are ruling higher by nearly Rs 290 per 10 kg in the current month over the two edible oils – RBD palmolein and refined soya oil.