Peanut prices expected to improve after announcement of government procurement in Karnataka

28-Oct-2024 04:07 PM

Raichur. In Karnataka, the major peanut producing state of South India, the harvesting of this important oilseed crop has begun and supplies have also started coming in the markets but its price is going down.

In view of this, on the special request of the state government, the Center has given approval to buy peanuts from farmers in Karnataka at the minimum support price (MSP) and the state government has also issued necessary guidelines to the officials to start the procurement process.

The Central Government has increased the MSP of peanuts by 6.4 percent compared to last year and fixed it at Rs 6783 per quintal this time and in Karnataka, six agencies have been entrusted with the responsibility of conducting the procurement process at this price level.

This includes two agencies of the Center and four agencies of the provincial level. As per the guidelines of the price support scheme, the districts of the state in which it has been decided to buy peanuts include Raichur, Vijayanagar, Gadag, Davanagere, Bagalkot, Chitradurga, Ballari, Haveri, Dharwad, Tunkur and Koppal.

Senior and related officials of all the above districts have been instructed to make proper arrangements for the purchase of peanuts as soon as possible.

Registration of farmers has also been asked to start as soon as possible and for this, talks have been asked to be held with the concerned agencies.

Karnataka is considered to be the third major producer of peanuts in the country after Gujarat and Rajasthan. According to trade analysts, the start of government procurement at the minimum support price will provide great relief to the farmers and its open market (wholesale mandi) price may improve somewhat.