Groundnut enthusiasts, take heed! The arrival of new summer groundnut in Banaskantha, including Deesa, Palanpur, Pathawada, Deodar, and other shops, is currently graced by a modest influx of 6 to 8 thousand bags, with a moisture content of 7 to 8%.
Hold your hats, for, after June 15, the arrival of summer groundnut is expected to escalate. Banaskantha witnesses a decrease in sowing this year, projecting a crop of 1.8 to 2.0 million sacks, compared to the previous year’s 2.3 to 2.4 million bags. An overwhelming 90% of this year’s crop will comprise the TJ variety, while the remaining 10% will feature the Rohini and Jeetu varieties.
Currently demand is low
The landscape shifts as the groundnut crop burgeons in West Bengal, Orissa, and Uttar Pradesh. Coupled with the low groundnut seed prices in these regions, a drop in TJ groundnut seed for groundnut is projected after June 15. Exporting groundnut seeds may alleviate the recessionary impact as new groundnut arrivals flood the scene. The demand for large groundnut seeds is estimated to surge post the advent of rainfall. Currently, export demand for groundnut seeds languishes due to delayed arrivals caused by cyclone disruptions in India and the availability of competitively priced new groundnut seeds from Tanzania-Mozambique.
The groundnut crop in Mainpuri, UP, as well as Guna and West Bengal, is estimated to yield bountifully. In contrast, North Gujarat experiences a 30 to 35% reduction, while Maharashtra and Orissa have completed their harvest.
While the prices may experience a temporary decline due to the influx of new summer groundnut crops in India, this dip is unlikely to persist beyond 1 to 2 weeks. Introducing new varieties, such as TJ and Java, is anticipated to boost regular groundnut seed purchases from India by buyer countries.
India is poised to export over one lakh tonnes of groundnut oil this year, a significant increase from the previous year’s thousand tonnes. However, Indian groundnut faces limited demand due to the attractive prices of Tanzania and Mozambique.