Mumbai, June 25 (CommoditiesControl) – Peanut prices in Saurashtra have witnessed a notable uptick of 10-15 rupees per 20 kg, attributed to robust trading activity in peanut oil. A prominent Gondal trader reported approximately 20 tonnes of loose peanut oil being traded at Rs 1475 per 10 kg. This surge in demand, coupled with a decrease in arrivals, has contributed to the price escalation. Market sentiment remains optimistic, with traders anticipating further price improvements in the coming days.
Rainfall in several regions of Saurashtra has impacted peanut arrivals, although sowing has commenced in areas that have received adequate precipitation. Gondal and surrounding regions are still awaiting substantial rainfall, which is expected within the next ten days. The Meteorological Department has forecasted favorable rainfall patterns for the current week in various parts of the region.
In Gondal Mandi, trading activity was brisk, with 7000 bags traded against an arrival of a similar quantity. Prices for average quality peanuts ranged between Rs 1151-1231 per 20 kg, while premium quality fetched Rs 1161-1401 per 20 kg. New peanuts witnessed a trade volume of 591 bags, priced between Rs 1156-1350 per 20 kg.
Rajkot Mandi saw a trade volume of 4500 bags, with average quality peanuts priced between Rs 1100-1290 per 20 kg and premium quality at Rs 1100-1324 per 20 kg.
In North Gujarat, Deesa Mandi recorded an arrival of 50050 bags, with prices averaging between Rs 1050-1450 per 20kg. Palanpur Mandi and Panthawada Mandi both reported an arrival of over 30000 and 14900 bags respectively, with prices ranging between Rs 1050-1420 per 20 kg. Overall, North Gujarat witnessed an influx of over 95198 bags of peanuts.
The peanut market in Saurashtra is experiencing a significant upswing in prices, fueled by increased demand for peanut oil and a gradual decline in arrivals. While rainfall patterns have influenced sowing and arrivals, the overall outlook remains positive, with traders anticipating further price appreciation in the near future.
(By Commoditiescontrol Bureau; +91-9820130172)
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