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Chinese demand pushes up groundnut oil prices by 15%

The surge in demand, however, has not been met by sufficient quantity of groundnut crushing, resulting in lower production of groundnut oil this year

Groundnut
Image via Shutterstock

Surge in demand from China in the month of March has led to a rise in groundnut oil prices by almost 15% over the past two weeks. Additionally, the price rise in the overall cooking oil market globally led by tight supply of palm oil has also pushed groundnut oil prices in domestic markets.    The surge in demand, however, has not been met by sufficient quantity of groundnut crushing, resulting in lower production of groundnut oil this year. Moreover, with prices going up, domestic retail demand for groundnut has declined, too.    At the wholesale level, groundnut ...