MUMBAI, 22 Jan (Commoditiescontrol): Peanut prices softened by ₹5–10 per 20 kg due to a decline in the rates of peanut oil and peanut cake. According to traders, loose peanut oil prices have dropped to ₹1,400 per 10 kg, while peanut cake prices have fallen to ₹20,500 per tonne, with expectations of further decline below ₹20,000 in the short term. This downward trend has impacted the peanut market.
In Gondal mandi, arrivals were around 17,000 bags, with trade recorded for 16,070 bags. The price for average-quality peanuts ranged between ₹1,080 and ₹1,180 per 20 kg, while best-quality peanuts were priced at ₹1,100–1,225 per 20 kg. In Rajkot mandi, trade was reported for approximately 10,000 bags, with 28,000 bags remaining unsold. Average-quality peanuts were priced between ₹930 and ₹1,230 per 20 kg, whereas best-quality peanuts fetched ₹910–1,145 per 20 kg. Across Saurashtra, total arrivals stood at approximately 30,000 bags.
In North Gujarat, the Deesa mandi recorded arrivals of 607 bags, with prices ranging from ₹1,030 to ₹1,125 per 20 kg. Panthawada mandi saw arrivals of 870 bags, with prices between ₹1,000 and ₹1,090 per 20 kg. At Palanpur mandi, 1,778 bags arrived, with prices ranging from ₹1,010 to ₹1,250 per 20 kg. Meanwhile, in Himmatnagar mandi, arrivals were estimated at 2,200–2,500 bags, with prices ranging from ₹1,230 to ₹1,510 per 20 kg.
The weakening trend in peanut oil and cake prices is expected to influence peanut rates further, as the market adapts to changing dynamics in demand and supply.
(By Commoditiescontrol Bureau; +91 98201 30172)