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 third advance estimate released on May 25, 2021, Groundnut – Kharif production for FY 2020-21 was 84.54 lakh metric tonne (LMT) compared to FY 2019-20 which was 83.89 LMT, up by 0.77 per cent
  • As per the Directorate of Agriculture (Government of Gujarat) as of June 28, 2021, progressive area sowing was at 9.99 lakh hectares (lha) as compared to an area of Kharif 2020 was 12.36 lha, down by 19.19 per cent
  • For FY 2020-21 (April to February) India exported 5.89 LMT of Groundnut valued at Rs. 4,910.92 crores whereas it imported 1,036.15 MT valued at ₹ 7.95 crores according to the Directorate General of Commercial Intelligence and Statistics (DGCIS)

Monsoon Update

For the country as a whole, cumulative rainfall during this year’s monsoon season till June 30, 2021, is above Long Period Average (LPA) by 10 per cent. 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 5.21 per cent to ₹ 5,550 per quintal for marketing year (MY) 2021-22 compared to ₹ 5,275 in 2020-21 to ensure remunerative prices to the farmers
  • Prices of Groundnut would trade in a range-bound to slightly weak in immediate/short term due to good arrivals
  • According to various media reports, farmers have been releasing their stock to book profits at the current level

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