Weekly Review-Peanuts
26-Oct-2024 07:33 PM
Sporadic arrival of new stock begins - Mixed trend in prices
New Delhi. Harvesting and preparation of early sown crop of peanuts has started in major producing states and new stock has started arriving in the markets. During the week of 18 to 24 October, an average daily arrival of 15 thousand bags of peanuts took place in Rajkot, Gujarat, but its price fell by 250 rupees to 8000/11000 rupees per quintal.
Price
On the other hand, the price in Junagadh jumped by 500 rupees to 5000/6000 rupees per quintal. The price of peanuts was up by 300 rupees in Bikaner, Rajasthan, 300 rupees in Mahoba, Uttar Pradesh and 400 rupees per quintal in Solapur, Maharashtra. On the other hand, the price rose by 400 rupees in Mauranipur as well, but the price softened by 200 rupees in Jhansi.
Producing States
The top producing states of peanuts include Gujarat, Rajasthan, Karnataka, Maharashtra, Uttar Pradesh and Andhra Pradesh. Karnataka has received approval from the Central Government to buy peanuts from farmers at the minimum support price of Rs. 6783 per quintal and necessary preparations are being made to start the procurement process there. Gujarat is expected to have a great production of peanuts during the current Kharif season as there has been a good increase in its sowing area and the average yield rate of the crop is also expected to improve.
Groundnut Seed
The prices of groundnut seeds declined by Rs. 200-300 per quintal as it is believed that its export performance has weakened at the high price level. In Jalgaon, the price of 80/90 count grains fell by Rs. 400 to Rs. 9600 per quintal. The prices of 60/70, 70/80 and 90/100 count grains also remained soft by Rs. 200-300. Groundnut Oil
The price of groundnut oil remained generally higher by Rs. 25 per 10 kg but fell by Rs. 10 in Bikaner and Hyderabad.