Despite the heavy rain, the overall peanut production will not decrease. However, the sowing has been delayed by 5 to 10 days for the heavy monsoon. Furthermore, it has been predicted that the sowing of the peanut will increase in the Kutch-Sabarkantha region.
According to market experts till Janmasthami there won’t be any recession in the peanut oil. But depending on the Kharif crop there can be a bit of slowdown after the festival.
The summer peanut crop is about to end in Uttar Pradesh. At present, only 25% of the peanut of Uttar Pradesh has arrived. Hence Gujarat will now continue to procure the peanut from Uttar Pradesh for the next 15 days.
In the Halvad district of Saurashtra, pre-monsoon in advance peanut has been sown for year. In the region, only thin peanut of the T.J and G24 variety is sown. These varieties normally are ready to be harvested in 90 days. Hence from the next one month the arrival of new peanuts of Halvad will be visible in the market.
Peanut crushing units will get some goods from Uttar Pradesh and some from the sale of at NAFED for the next 1 month. With this, the crushing units are expected to continue to get the required amount of peanut until the new grains arrive.
The prediction is peanut oil will remain between $2,00 – $2,07 per kg for the next one and half month without any price increase.
It has been reported the overall sowing of peanut in Gujarat has decreased by 5 to 10 percent. But with good rain and better yield per hectare there wont be a major reduction in the overall peanut production.
The Peanuts bold 40-50 prices were Recorded at $1,35 per kg FOB.