Groundnut oil prices high on increase in liquor consumption

Recently I read a story in Business Line. The story says Groundnut oil prices high on increase in liquor consumption . "The problem with groundnut oil is that mills are not getting kernel for crushing. One of the reasons is rise in direct consumption, including as snacks, especially for liquor consumption," says Mr B.V. Mehta, Executive Director of the Solvent Extractors Association of India. I don’t know on what basis Mr. B.V. Mehta claimed this. This shows how two seemingly unrelated events affect one another.

Long back, I own 1000 Nagarjuna Fertilizers Ltd. in physical form. At that time Cables are restricted to Metros. Doordharshan and All India Radio are the only sources of current news to non-metro areas. One day, the price of Nagarjuna Fertilizers started to fall. We have no clue what so ever. Doordharshan flashed a news item stating that fire was broke out in the Krishna – Kothavari Gas rig. I didn’t know the fact that 90% of Nagarjuna Fertilizers’s energy requirements are met by ONGC’s Krishna – Kothavari Gas rig and fire in that area would drastically affect the production of Nagarjuna Fertilizers. I came to know this reason after 15 days. I lost around 50% of my investment because of my ignorance.

2 comments:

Suresh Kaimal said...

Hey good post. was searching for something else just came in. Keep going
Regards
Suresh kaimal
I have a small blog on educating investors on the way to invest and the options available in india. Check out and do put your valuable comments sir
http://kaimalsway.blogspot.com

R.J.C said...

Thanks a lot, Mr. Suresh Kaimal, for leaving your valuable comments on this blog. Thanks for inviting me to your blog http://kaimalsway.blogspot.com/ . It is indeed a good work. Keep it up.

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