Groundnut

Prices of groundnut seed were unchanged in Gondal, Gujarat, as demand from crushers supported prices, while higher stocks with the government limited gains. New crop arrivals of groundnut seed are expected to increase post Diwali to around 50,000 bags (1bag=20kg) from current arrivals of 25,000-30,000 bags. Prices of groundnut seed are expected to fall by 40-50 rupees from the current rates due to higher arrivals.

IMD Agrimet division has advised farmers in Rajasthan to control infestation of termites in the standing kharif groundnut crop. Incidents of termite attack on the groundnut crop have been reported in some areas of the state. Farmers are advised to irrigate the fields after spraying pesticides on the crop.

Arrivals of groundnut from new crop started in some parts of Gujarat almost a week ago, and prices have fallen below last year level. In the benchmark Gondal market in Gujarat, average daily arrivals of groundnut estimated around 25,000 bags (1 bag = 35 kg), up from 12,000-15,000 bags a year ago.

New crop groundnut arrivals begin in Gujarat, prices fall.

Groundnut prices are likely to top the minimum support price during the peak arrival season in Oct-Nov, deviating from the norm, buoyed by a smaller crop, procurement in Gujarat, and an uptick in exports Erratic weather conditions due to uneven distribution of monsoon rains in key growing areas have hit the crop this year.

Groundnut price may top MSP in 2 mos on likely small crop, govt buys.

Prices of groundnut seed rose in Junagadh, Gujarat, due to higher demand from domestic oil millers and crushers, as well as a fall in supply.

Farmers had sown groundnut across 4.13 million ha, down 11.6% on year. The fall in area under the oilseed was mainly because of lower acreage in Andhra Pradesh and Karnataka. Poor rainfall in Karnataka during the initial months of the Jun-Sep monsoon season has led to a decline in the area under the crop to 378,000 ha from 522,000 ha sown last year. Acreage in Andhra Pradesh fell over 29% on year to 656,000 ha, as many farmers shifted to other remunerative crops this season. In Gujarat, the largest producing state, groundnut acreage fell marginally to 1.63 million ha from 1.64 million ha last year.

Prices of groundnut seed were up in key markets of Gujarat, as farmers had sown groundnut across 4.13 million ha, down 11.6% on year. Demand from domestic oil millers and crushers also supported groundnut prices of the seed.

Output of groundnut, another major crop in the state, is seen rising 19% on year to 3.27 million tonne. Castor output is estimated to decline 12% on year to 1.11 million tonne. Total oilseed output in the kharif season is seen at 4.54 million tonne, as against 4.16 million tonne a year ago. Guar output in Gujarat, the second largest growing state, is likely to fall 41% on year to 144,000 tonne, as acreage declined to 200,000 ha from 352,000 ha a year ago.

Prices of groundnut seed were up in Gondal, Gujarat, due to improved demand from oil millers and crushers coupled with a dent in supply.

Prices of groundnut seed were up in Junagadh, Gujarat, because data from the agriculture ministry showed that farmers had sown groundnut across 4.08 million ha, down 12.2% on year. A fall in supply, coupled with improved demand from domestic oil millers and crushers, also supported prices.

IMD Agrimet has advised farmers in Andhra Pradesh to control the menace of leaf eating caterpillars, red hairy caterpillars, stem borer, and leaf folder insects in the groundnut crop to get optimal yield. The present weather conditions are favourable for the insect attacks. The disease may lead to shrivelling and wilting of the plants and eventually hit the yield. These attacks are common when the weather turns humid after rains.

Prices of groundnut seed fell in Junagadh, Gujarat, due to higher arrivals and lacklustre demand from domestic oil millers and crushers. In Junagadh, the key market for the oilseed, it was sold at down 10 rupees from previous close. In Gondal, another key market, the commodity was quoted down 15 rupees. Arrivals of the oilseed in Junagadh were estimated at 3,000 bags (1 bag= 20 kg), up 1,000 bags from previous close.

Prices of groundnut and mustard oils rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market today largely on pick-up in demand from retailers. Castor oil, in the non-edible section, also traded higher on increased offtake by consuming industries. Besides uptick in demand from retailers, fall in arrivals from producing belts mainly led to the rise in groundnut and mustard oil prices.

Groundnut oil strengthened at the Vashi oils and oilseeds wholesale market here on consistent demand from stockists and retailers. Refined palmolein also surged following sustained demand from retailers. Castorseeds bold and castor oil commercial also firmed up due to persistent demand from shippers and soap industries.

In restricted activity, groundnut oil prices declined at the wholesale oils and oilseeds market due to reduced offtake by stockists. Reduced offtake by stockists on the back of easing demand from retailers against adequate stocks position, mainly weighed on groundnut oil prices.

Farmers in the country had sown kharif groundnut across 3.49 million ha as of Thursday, down 12.9% on year. In Gujarat, the largest producing state, groundnut acreage was 1.61 million ha, up 2.6% on year, following favorable rains in the state. However, a fall in area sown under groundnut seed in other key producing states of Andhra Pradesh and Karnataka, following deficit rains, pulled down overall acreage in the country.

Incessant rains followed by heavy flooding and water logging in Gujarat poses a major risk to cotton and groundnut crops among others. The weather bureau has forecast heavy to very heavy rains until Friday, which could worsen the situation for kharif crops.

Groundnut oil prices fell at the wholesale oils and oilseeds market due to reduced offtake by stockists following easing demand from retailers. However, other edible and non-edible oils moved in a narrow range in limited deals and pegged at last levels. Reduced offtake by stockists due to fall in demand from retailers against adequate stocks position, mainly led to the decline in groundnut oil prices.