Groundnut Saga: Price Fluctuations and the Arrival Pressure Uttar Pradesh Takes the Stage, Groundnut Prices Brace for Impact

In the captivating world of groundnuts, a tale of uncertainty unfolds. As the arrival pressure mounts in Uttar Pradesh, groundnut prices are set to experience a downward spiral in July. Experts reveal that groundnut will dwindle to $18, and groundnut seeds will plummet from $0,12 to $0,14.

The groundnut harvest estimates paint a picture of contrasts. Gujarat anticipates a 0.70 to 0.80 million tonnes yield, with Banaskantha contributing 0.50 to 0.55 million tonnes, Sabarkantha adding 0.10 to 0.15 million tonnes, and Saurashtra producing 0.5 to 0.10 million tonnes. On the other hand, Uttar Pradesh projects a whopping 2.5 million tonnes of groundnut, with the arrival expected to commence between June 5th and 10th and pressure mounting from June 20th. Uttar Pradesh’s groundnut will boast a 52% yield, 56% percentage, and Java type with counts ranging from 50 to 60 and 80 to 90. The grain component will comprise 70 to 75% of the groundnut, while the remaining 25 to 30% will undergo crushing.

The arrival of new summer groundnut from Gujarat is anticipated in a week, with current prices hovering around $20 to $21 per head. However, groundnut prices are predicted to drop to $17 per mind in July, following the arrival pressure from Uttar Pradesh. Groundnut seeds, too, will witness a steep decline from $0,27 to $0,28 per kg.

The groundnut narrative takes an intriguing twist as we explore West Bengal’s contribution to the tale. With a substantial groundnut yield, West Bengal’s harvest will primarily be used for mixing. This crop’s short lifespan dictates that it will be extensively mixed with Java groundnuts. As the arrival pressure from Uttar Pradesh looms in mid-June, the price of Jawa groundnut with 80-90 counts will plummet to $1,13, while TJ groundnut with the same count range will decrease to $2,98.

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