New Peanut Crops Arriving Soon
Prices Expected to Decrease by $0.036-$0.060 per kg
As new peanuts arrive, prices are expected to decrease by $0,036-$0,060 per kg, according to Vimal Tolia. The sale of new peanuts from Bengal has started, and this year’s crop is good. The Mainpuri peanut crop in Uttar Pradesh is expected to increase by 1.5 times. New arrivals in Gujarat will also increase soon. With the simultaneous start of new peanut sales, prices are predicted to drop by $0,036-$0,060 per kg by the end of June.
Currently, the price of TJ 50-60 count is $1,20, Tag Java-Maharashtra crop is $1,19, and Bengal crop is $1,18 per kg. Only 5-10 percent of West Bengal’s peanuts have reached the market, with the rest still in the fields, risking quality deterioration due to rain.
Peanut Market Trends and Global Demand
International Markets and Quality Concerns Drive Prices
New peanut arrivals in Uttar Pradesh will start around June 15. The crop is good, but its quality will depend on rain timing and quantity. There is good demand in countries like Vietnam, Indonesia, and the Philippines, while China focuses on coconut oil imports. Peanut prices in African countries are lower than in India, with Mozambique at $1,050 and Tanzania at $920-$925 per tonne. In contrast, Indian grains like Mainpuri-Bengal Java beans cost $1,180 for 80-90 counts and $1,240-$1,250 for 50-60 counts from June 15. Old peanut stocks are significant this year, and their quality is deteriorating due to heat. Farmers and traders are selling these older peanuts. This year’s carryforward stock is expected to remain large in the new season.
Future of Peanut Prices and Regional Production
Fluctuations and Predictions in Major Producing Areas
Peanut prices will fluctuate by$0,024-$0,036in the short term, according to Neeraj Adhia. The peanut seed market shows a two-way movement with prices varying based on counts and quality. West Bengal’s peanut crop is expected to increase by 1.5 times, but rain might affect quality. New arrivals in Gujarat will peak in early June, with production estimated at around 100,000 tonnes. Pre-monsoon peanut sowing in Gujarat will be 20 percent lower due to water issues. Good demand exists in the Gulf and Far East countries. Banaskantha district expects 25-30 lakh bags of summer groundnuts, a 15-20 percent increase from last year. New arrivals have started slowly, with good income expected until July. Despite fluctuations, the peanut market is stable with good demand.
Peanut prices are expected to decrease with new arrivals, influenced by strong demand and quality concerns. Farmers and traders should stay informed about market trends and prepare for potential price changes.
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