Current Market Developments:
- Groundnut prices in most of the domestic spot markets have remained weak as demand from traders, stockiest and millers remained subdued. Subdued demand has resulted in weak arrivals in most of the spot markets of Gujarat and Rajasthan.
- As per market sources, farmers and government is having big quantity old stock with them so the prices are not likely to see any significant increase in near term.
- NAFED is having around 95 thousand tonnes of Groundnut stock out of which around 4 to 5 thousand tonnes sold in the various markets. Around 20 thousand tonnes of last year’s stock are also left with them.
- In the global market, Groundnut kernel prices in Mozambique is around 1150 to 1200 dollars per tonne, Sudan prices are around 1150-1180 dollars per tonnes as against the Indian prices of around 1300-1350 per tonnes. India exports Java and TJ variety of Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
- As per the Ministry of Agriculture third advance estimates 2021-22, Groundnut crop production is estimated to decline by 1.5 percent at 100.87 lakh tonnes as against 102.44 lakh tonnes during 2020-21 due to lower acreage as farmers opted for Soybean and Cotton crop.
- The current Kharif season All India acreage under Groundnut has declined by 13 percent at 7.62 lakh hectares as against 8.72 lakh hectares acreage during last year same period.
Groundnut Price Trend Vs Seasonality at Key Markets
Groundnut Area, Production and Yield: India & Major States
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