Due to a massive shortage of bold varieties, the prices are increasing continuously. In India, the quality variation was more in the bold variety, and the demand for bold variety groundnut seeds is continuously growing in foreign countries.
Massive demand
In the current year, due to the start of the Ramadan festival in March, there is a massive demand for a bold variety of groundnut seeds in countries where the shipment reaches in 30 to 35 days, such countries as Algeria, Egypt, Turkey, Iran, Iraq, Morocco, Russia, etc. The new season of groundnut and groundnut seeds started in October; since then, the entry of stockists was done on a large scale because the stockists had earned a lot in the last 3 to 4 years.
Presently 80% of groundnut processing units in Gujarat are closed because groundnuts have come to the market from farmers’ homes in Gujarat, Rajasthan, Uttar Pradesh, and Madhya Pradesh. At present, due to the possession of groundnuts by the stockist, they come to sell groundnuts only when the prices in the market are high. Due to this, groundnuts are not available in sufficient quantity in the market. The labor shortage is also increasing slowly, and there is a lack of parity in processing groundnuts.
Future Scenario
The arrival of groundnut has started, and the arrival of new groundnut will begin in the next 10-15 days in other states of South India. Due to the sowing of only Java and TJ variety groundnuts in the summer season, their demand will now be visible in the market.
In the current year, groundnut production has decreased by 20 to 25% in the Kharif season due to rain. The farmers of Kutch have not sold groundnut to anyone in the government because of the high MSP (minimum support price) price of groundnut.
Thus, looking at the current scenario, there is no possibility of a recession in the future. There is a shortage of a good variety of groundnuts in the national market.
The Peanuts bold 40-50 prices were recorded at $1,35 per kg FOB.