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Gujarat Peanut Prices Fall Due to Declining Demand and Slow Exports

22 Feb 2024 4:28 pm
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Ahmedabad, February 22 (Commodities Control): Peanut markets in Saurashtra are experiencing a price decline due to weak demand and a slowdown in export activities. Export trade has not seen significant momentum since February 15, directly impacting market prices. A recent drop in peanut oil prices after a brief improvement period has further pressured peanut prices. Today, peanut prices across the state have decreased by 10-15 rupees per 20 kilograms.

According to traders in Gondal, 30-40 truckloads of peanuts continue to arrive from Rajasthan, priced at 1000-1200 rupees per 20 kilograms. With Gujarat's comparatively expensive peanuts, some buyers opt for the Rajasthani alternative. Due to lower peanut prices this year, farmers may be inclined to shift towards sesame cultivation for the summer season. Loose peanut oil prices have also decreased to 1450-1475 rupees per 10 kilograms.

Today's arrivals and prices in major markets were as follows:

Gondal: Arrivals of 7800 sacks (1 sack = 35 kilograms). Prices ranged from 1211-1286 rupees per 20 kilograms for average quality and 1231-1356 rupees per 20 kilograms for superior quality.

Rajkot: Arrivals of 6000 sacks. Average quality sold for 1120-1285 rupees per 20 kilograms, and superior quality for 1135-1350 rupees per 20 kilograms.

Saurashtra: Total arrivals of approximately 18000 sacks.

Himmatnagar: Arrivals of around 500 sacks, with prices ranging from 1275-1425 rupees per 20 kilograms.

The decline in peanut prices is directly linked to reduced market demand and sluggish exports. In the short term, peanut prices may decline further if the demand situation does not improve.

(By Commoditiescontrol Bureau; +91-9820130172)

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