Government purchase of peanuts ineffective; farmers less interested in selling peanuts to the government

03-Jan-2025 10:45 AM

Government purchase of peanuts ineffective; farmers less interested in selling peanuts to the government
As of January 1, 2025, the government has purchased 5 lakh tons of peanuts (moongfali), while the target was 20 lakh tons. In Gujarat, out of a target of 13.06 lakh tons, only 3.7 lakh tons have been purchased, and the purchase will continue until February 9, 2025. In Rajasthan, 98,977.93 tons have been purchased out of the target of 5.31 lakh tons, with purchases continuing until February 15, 2025. In Uttar Pradesh, only 35,687 tons have been purchased out of the 1.07 lakh tons target, with purchases continuing until January 29, 2025. Purchases in Karnataka and Haryana have been minimal, and Andhra Pradesh has not made any official purchase announcements.
The peanut market has also been impacted by the continuously declining prices of soybeans, mustard, and their oils. However, peanut consumption, especially in snacks and nuts, has been increasing, which has helped prevent a significant drop in prices compared to other oilseeds. While the prices of other oilseeds have fallen, peanuts have seen relatively better performance.
Unless changes are made to the import regulations, the chances of a significant price surge in peanuts remain low.