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:

  • As per the Ministry of Agriculture second advance estimate released on February 24, 2021, Groundnut – Kharif production for FY 2020-21 was 85.90 lakh metric tonne (LMT) compared to FY 2019-20 which was 83.89 LMT, up by 2.40 percent
  • As per the Directorate of Agriculture (Government of Gujarat) as on May 3, 2021, sowing was at 59,595 hectares (ha) as compared to last three year’s average of 46,839 ha, up by 27.23 percent
  • For FY 2020-21 (April to January) India exported 5.42 LMT of Groundnut valued at Rs. 4,507 crores whereas it imported 1,036.14 MT valued at Rs. 7.97 crores according to Directorate General of Commercial Intelligence and Statistics (DGCIS)

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s pre-monsoon season till May 5, 2021 is below Long Period Average (LPA) by 29 percent. Details of the rainfall distribution over the four broad geographical regions of India are given below:

Market commentary: Price outlook

  • 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 to ensure remunerative prices to the farmers
  • Prices of Groundnut would trade in a range-bound movement with firm bias ] in immediate/short term as they are currently trading above MSP from its recent volatile uptrend due to good overseas demand, especially from China for Groundnut seed and Groundnut oil

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