Weekly Review-Peanuts
02-Nov-2024 06:59 PM
Pressure on Peanut prices due to increased arrivals in Gujarat
New Delhi. Due to the start of supply of new Kharif peanuts in the major producing state- Gujarat and limited demand from traders / millers at higher prices, some pressure was seen on the market prices during the week of 24-30 October.
Arrivals
During the week under review, the average daily arrival of peanuts reached 65 thousand bags on 28 October in Gondal, Gujarat, which was 30 thousand bags on 25 October. Its price softened by Rs 50 and came down to Rs 4500/6100 per quintal. Average daily arrival of 15-20 thousand bags of peanuts was recorded in Rajkot, 3 thousand bags in Junagadh, 35 thousand bags in Jhansi, Uttar Pradesh, 4500 bags in Mahoba and 10-11 thousand bags in Mauranipur.
Prices
On weekly basis, the price of groundnut was up by Rs 500 in Junagadh but it fell by Rs 100 in Solapur, Rs 500 in Mahoba and Rs 700 per quintal in Mauranipur. The prices of groundnut seeds also fell by Rs 200-300. The price of 70/80 count seeds fell by Rs 400 in Solapur. Similarly, the price of 50/60 count seeds fell by Rs 800 and the price of 60/70 count seeds fell by Rs 500 per quintal in Nagpur.
Groundnut Oil
The price of groundnut oil was up by Rs 10 to Rs 40 per 10 kg but it fell by Rs 40 in Rajkot. The prices of branded groundnut oil fell by Rs 50. This decline was seen in Kota while the price of groundnut oil (filter) improved by Rs 10-20 in Jaipur and Newai. The price of groundnut oil cake remained stable.