Muhurat in edible oils,key seeds rise on brisk festival demand

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Mumbai, Nov 9 (UNI) The 'Muhurat' trading of Hindu calender 'Vikram Samvat' Year 2064, today showed firm trend in edible oils and key seeds like groundnutseed, castorseed and nigerseed.

The trading in oilseeds and oils will be closed tomorrow for a new year day of Hindu calender 'vikram samvat' year 2064.

BCE President Mr Mahindra Chheda told UNI here tonight that, ''This Diwali year, edible oil price soared up nearly by Rs 200 per quintal kg from last Diwali due to shortage of ready stocks at the domestic market.The current 'Kharif' crops would be lesser by 25 per cent due to bad weather at producing area like Madhyra Pradesh, Gujarat and southern regions. There was huge export demand from China, US, Middle East and other countries, he said.

He urged the Union Finance Minister to ban all essential commodity markets including edible oils.

If the demand of the trader's considered, then prices would come down atlest by 50 per cent, which would reflect in retial prices for commonman, he added.


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