Weekly Review-Peanuts

21-Dec-2024 07:26 PM

Mixed trend in the prices of peanuts due to the increasing arrival of new goods

Arrival Trends: The arrival of new Kharif season peanuts has increased in major producing states like Gujarat, Rajasthan, Uttar Pradesh, Maharashtra, and Karnataka. This increase in arrivals is contributing to a mixed price trend, with fluctuations occurring at different locations.

Price Trends:

  • Gujarat (Rajkot): The price of peanuts decreased by Rs 125 to Rs 6000-7000 per quintal, with daily arrivals ranging from 25,000 to 40,000 bags.
  • Junagadh (Gujarat): Despite a daily arrival of 5,000 bags, the price remained stable at Rs 6000-6300 per quintal.
  • Rajasthan (Bikaner): Prices fell by Rs 200 to Rs 5100 per quintal.
  • Uttar Pradesh (Mahoba): Prices decreased by Rs 150 to Rs 3800-4250 per quintal, significantly lower than the government’s Minimum Support Price (MSP).
  • Maharashtra (Solapur): Prices increased by Rs 300 to Rs 6600 per quintal.
  • Uttar Pradesh (Mauranipur): Prices increased by Rs 100 to Rs 3800-4200 per quintal.

Support Price: The government has raised the MSP of peanuts by 6.40% compared to last year, setting it at Rs 6783 per quintal. This increase has impacted prices in some regions, but they remain below the MSP in areas like Uttar Pradesh.

Peanut Seed Prices:

  • Rajasthan: The price of shellless peanut seeds remained stable.
  • Maharashtra (Jalgaon): No significant change in prices.
  • Solapur (Maharashtra): The price of 50/60 count increased by Rs 400 to Rs 10,300 per quintal (plus GST), and 60/70 count saw an increase of Rs 600 to Rs 10,000 per quintal. The price of 80/90 count rose by Rs 100.

Groundnut Oil:

  • The price of groundnut oil decreased by Rs 25-35 per 10 kg, while filter oil saw a reduction of Rs 10-20 per kg.

Overall, the mixed trend in peanut prices reflects both regional variations and the impact of government support prices and increased arrivals.

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