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Arrivals Surge in North Gujarat, Prices Remain Stable Amidst Anticipation

19 Jun 2024 5:25 pm
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Mumbai, June 19 (Commodities Control): The peanut market witnessed stable prices despite significant arrivals in North Gujarat. Saurashtra, a major peanut arrival hub, saw a modest influx of 12,000-15,000 bags across various centers, excluding Gondal and Rajkot Mandi. Notably, North Gujarat recorded a substantial arrival of over 1 lakh bags.

Traders in Gondal Mandi attribute the current lack of significant peanut sowing to insufficient rainfall. Furthermore, the anticipated arrival of peanuts from Uttar Pradesh's Mainpuri line in the coming days is expected to dampen demand for local produce, thereby curbing any potential price increase.

The delayed monsoon has also contributed to the subdued peanut market sentiment. The softening prices of peanut oil are projected to exert downward pressure on the prices of crushing quality peanuts.

Gondal Mandi, after a three-day closure, resumed trading with no new arrivals. Approximately 15,000 bags from the pending stock were traded, with average quality peanuts fetching Rs 1186-1281 per 20 kg and best quality peanuts trading at Rs 1196-1366 per 20 kg. Notably, 1580 bags of new peanuts arrived and were priced at Rs 1171-1361 per 20 kg.

Rajkot Mandi saw trading of 9,000 bags from the pending stock, with average quality peanuts priced at Rs 1100-1250 per 20 kg and best quality peanuts at Rs 1100-1270 per 20 kg.

In North Gujarat, Deesa Mandi recorded a substantial arrival of 46,388 bags, with quality number 37 priced at Rs 1250-1340 per 20 kg and quality number 24 at Rs 1350-1430 per 20 kg. Palanpur Mandi witnessed the arrival of 34,691 bags, priced at Rs 1070-1390 per 20 kg, while Panthawada Mandi received around 20,100 bags, priced at Rs 1000-1395 per 20 kg.

The peanut market remains stable despite significant arrivals in North Gujarat. The upcoming arrival of peanuts from Uttar Pradesh, coupled with the delayed monsoon and softening peanut oil prices, is likely to influence market dynamics in the near future.

(By Commoditiescontrol Bureau; +91-9820130172)


       
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