April 25 (CommoditiesControl) : The groundnut market exhibited stability today attributed to restrained demand in groundnut oil and sluggish export activities.
Market analysts indicate that a substantial decline is unlikely until the arrival of summer peanuts in the market. Anticipating favourable groundnut procurement in the forthcoming days, coupled with sustained demand for groundnut oil, prospects suggest a potential improvement in groundnut prices.
Today witnessed the arrival of approximately 15,806 sacks (1 sack = 35kg) in Gondal Mandi. Prices for average quality ranged between Rs 1,216-1,406, while the best quality commanded prices between Rs 1,231-1,366 per 20 kg.
In the Rajkot market, 8,000 bags were received today, with 5,000 bags still pending. Average quality groundnuts were priced between Rs 1,120-1,245, whereas the best quality fetched prices ranging from Rs 1,100-1,310 per 20 kg. Notably, Saurashtra witnessed an influx of approximately 30,000 bags of peanuts today.
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