In the last 10 days, a boom was seen in all the states in the groundnut market. As groundnuts have increased by 1.5 to 2 times, groundnuts are being supplied on a large scale all over the country from Jhansi.
A massive increase in the demand for groundnuts
Every year after the onset of winter, the demand for groundnut seeds keeps increasing from all the country centers. In the last 2 to 3 weeks, there was a massive increase in the demand for groundnut seeds in Uttar Pradesh and South India. Due to the reduction of the fear of Corona, the tourism industry has flourished, and its effects are visible in consuming items. Peanuts are widely used in making chikki (a sweet snack), and now is a time for chikki production as Shankrant demand is visible. Thus the need for peanuts is increased.
Currently, 0.6 to 0.7 million bags of groundnuts are arriving daily in the domestic shops of Gujarat. In Gujarat, out of 2.5 million tonnes of groundnut crop, 1.5 million tonnes of groundnut has come into the market, and now 1 million tonnes of groundnut is yet to come into the market.
No slowdown
Looking at the current scenario, there seems to be no possibility of a peanut slowdown due to a commodity shortage. Ramadan demand from Gulf countries for Indian groundnut seeds starts in January every year and continues till February. But 2022 is different in all ways, and thus, the export demand for peanuts has already begun in December.
On the other hand, due to the excellent water facility in every center, groundnut sowing is expected to increase on a large scale in the summer season. It is estimated to increase to 1.2 to 1.4 million bags in the current year. The demand among TJ varieties for summer sowing will start in February. Thus, to give an eagle view, the upcoming month for peanuts will remain active.
The Peanuts bold 40-50 prices were recorded at $1,29 per kg FOB.
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