Groundnut Is Expected to Set Towards a Northward Hike in the Future

The previous month groundnut gradually rose from $1320 to $1375 per ton. Further, it is also expected to grow in the future. Experts opine that 20 to 25% of groundnut stock is lying with the farmers in Gujarat. Some farmers still do not sell due to high prices, and thus the stock remains.

Massive demand

There is a massive demand for Bt 32 and Kadri variety groundnuts, which has increased in the last 15 days, and now there is a possibility of a further hike.

The groundnut stock is still lying in the farmers’ houses, and the traders also have a large stock. All the goods in the inventory are expected to come into the market after April, so the arrival is expected to be less. Some stockists are shipping less stock. Due to the rise in groundnut, there will be a medium demand for the upcoming Kharif season, then there is an assumption that the price of grain in bold quality will increase.

Water scarcity

Summer sowing will start in a few days, but sowing will decrease due to water scarcity this year. In the centres, including Gondal-Rajkot, sowing will decrease in those areas whose cultivation is based on well or bore only.

Summer sowing is also expected to be higher this year due to higher prices, although the accurate picture is still based on the demand for seeds after 15-20 days. Summer sowing will start gradually in the next few days in Gujarat.

Export demand is good in groundnut seeds at this time. Apart from Europe and Gulf countries, grain prices are high due to good demand from Malaysia and Indonesia. Export demand is expected to be high in February due to good demand for Ramadan. Although the market of Gujarat is based on the arrival of South’s goods in it.

The peanuts bold 40-50 prices were recorded at $1,39 per kg FOB.

Import/Export Statistics

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