Due to the production of different groundnut varieties in many states, the processing unit of groundnut mixes wide varieties to adjust the purity. Apart from Gujarat, groundnut production is increasing progressively in Rajasthan, Uttar Pradesh, Madhya Pradesh etc.
High demand
Currently, there is a shortage of Java varieties of groundnut this year, due to which the price of Java is now higher than other varieties. Due to the maximum sowing of Java variety in the summer season in Andhra Pradesh, Karnataka, Tamil Nadu and Gujarat, the demand for Java variety for seeds is currently high.
The export demand for the bold variety is less, but due to the good local market, there is no possibility of a decrease in its price. There is no possibility of a vast increase in groundnut-groundnut grain just because of the high difference between the prices of different varieties and the large stock of poor quality.
Future Scenario
Groundnut crop has decreased in China, but Chinese buyers believe that groundnut seeds and groundnut oil will continue to be available in future. Due to this, they do not buy forcefully at the moment. China benefits from a 10% duty in buying groundnut seeds from Sudan. But there is uncertainty in shipment. But due to the certainty of shipment from India, the purchase of groundnuts will continue slowly in India.
The price of groundnut is expected to increase from the present level due to the speculated demand for groundnut oil in December. Thus, to conclude, experts opine that there is no possibility of a downtrend in the prices of groundnuts.
The Peanuts bold 40-50 prices were ^recorded at $1,29 per kg FOB.
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