Weekly Review-Peanuts

14-Dec-2024 08:03 PM

The price of peanuts in UP improved due to the start of government procurement

The price of peanuts in Uttar Pradesh (UP) has improved, driven by the commencement of government procurement. The government has begun buying peanuts from farmers in Gujarat, Rajasthan, and Uttar Pradesh at the minimum support price (MSP) of Rs 6,783 per quintal. In Uttar Pradesh, over 1.07 lakh tonnes are approved for purchase, with approximately 13,000 tonnes already bought. In Gujarat, 1.51 lakh tonnes are being procured out of the approved 13.06 lakh tonnes, while Rajasthan has seen 33,000 tonnes bought out of the 5.32 lakh tonnes approved. Nationally, the government has given permission to purchase a total of 20.47 lakh tonnes of peanuts, with actual purchases reaching 1.97 lakh tonnes. The procurement process is still ongoing.

Peanuts are arriving in large quantities in Gujarat's Gondal, Rajkot, and Junagadh, and in Uttar Pradesh's Jhansi, Mahoba, and Mauranipur. Rajasthan's mandis are also seeing new stock arrive.

Price Movements:

• Groundnut Prices: From 6th to 12th December, groundnut prices fell by Rs 200 to Rs 500 per quintal in Bikaner and Jaipur, but increased by Rs 400 in Mauranipur, Rs 250 in Jhansi, and Rs 100 per quintal in Mahoba.

• Shelled Groundnut Kernels: Prices for shelled groundnut kernels generally decreased by Rs 100 to Rs 200. In Jalgaon, Maharashtra, the price of 70/80 count kernels dropped from Rs 8,000 to Rs 7,700 per quintal.

• Groundnut Oil: The price of groundnut oil dropped by Rs 25 to Rs 30 per 10 kg, now ranging between Rs 1,400 and Rs 1,500 per 10 kg. While branded groundnut oil prices remained stable, filtered oil prices softened by Rs 25 to Rs 30. Peanut De-Oiled Cake (DOC) prices saw a significant decline, falling by Rs 500 to Rs 1,000 per tonne due to weak demand.