Ahmedabad, March 18 (Commoditiescontrol): Groundnut prices remained stable today in the Saurashtra region, despite a steady increase in arrivals at the Gondal and Rajkot markets. The market stability comes amidst concerns over lower crop quality and simultaneous uptick in export demand.
Traders attribute the lower quality of groundnuts to increasing temperatures, leading to a higher incidence of insect infestation. This has prompted farmers to sell their crops earlier. Arrivals are expected to further increase in the coming days.
However, the market has received some support from recent export activity. China traded 100 containers of groundnuts last week, boosting demand.
Market sentiment now hinges on the balance between selling pressure from farmers and the pace of export demand. Next week's market closure due to March ending will temporarily pause trading, with price trends becoming clearer in April.
Gondal mandi: 13045 bags (1 bag = 35 kg) arrived. Average quality prices: Rs 1191-1236/20kg. Best quality: Rs 1221-1346 /20kg.
Rajkot mandi: 17000 bags arrived. Average quality prices: Rs 1055-1232 /20kg. Best quality: Rs 1060-1334 /20kg.
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