Commodity Outlook – Groundnut

Sowing period: May to June
Harvesting period: October
Crop season: Kharif

Sowing period: October to January
Harvesting period: April
Crop season: Rabi

Key growing regions:

  1. Gujarat – Rajkot, Banaskanth, Sabarkantha, Junagarh, Bhavnagar, Amreli
  2. Andhra Pradesh – Kurnool, Adoni, Kurnool, Chittor, Anantapur
  3. Maharashtra – Dhule, Vashim, Nagpur, Amarawati, Buldhana, Hingoli
  4. Tamil Nadu – Cuddalore, Villupuram, Erode, Salem
  5. Karnataka – Belgaum, Bidar, Dharwad, Haveri

Production trend and Stock position:

  • According to Directorate General of Commercial Intelligence and Statistics (DGCIS), the exports of Groundnut was 1.40 lakh metric tonne (LMT) as on April-July 2020 compared to 6.64 LMT during FY 2019-20
  • According to Ministry of Agriculture, the sowing acreage of Groundnut as on November 6, 2020 was 0.66 lakh hectares (lh) down by 7.04 percent compared to 0.71 lh during the corresponding period
  • As per Agriwatch website NAFED had disposed 3.88 LMT of Groundnut combined together in the states of Gujarat and Rajasthan, including stocks from Kharif’18 and Kharif’19

Monsoon Update

For the country as a whole, Seasonal cumulative rainfall during this year’s southwest monsoon season upto November 4, 2020 was below Long Period Average (LPA) by 1%. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

  • Groundnut prices will be range-bound in immediate /short term due to ongoing mandi arrivals in Gujarat region and as per media reports there has been a demand for Indian origin Groundnut from China due to crop damage
  • Compared to last year there has been a 15-20 percent uptick in spot market prices of Groundnut
  • The Government had increased the MSP of Groundnut by 3.63 percent to ₹ 5,257 per quintal for marketing year (MY) 2020-21 compared to ₹ 5,090 in 2019-20

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