Mumbai, May 6 (CommoditiesControl): Groundnut prices experienced a notable increase of Rs 10-15 per 20 kg today, propelled by heightened demand in both groundnut oil and seeds. Market analysts attribute this surge to robust buying activity from prominent brands operating within the peanut oil sector.
Groundnut oil in loose form is presently trading within the range of Rs 1450-1460 per 10 kg. Tomorrow, Tuesday, all mandis will remain closed due to the general elections taking place in Gujarat. However, on Wednesday, a continuation of the upward trend in groundnut prices is anticipated, fueled by sustained demand for seeds. Moreover, with the conclusion of the state's general elections, a gradual uptick in the arrival of summer groundnuts is expected.
In the Himmatnagar market, 30 to 40 bags of summer peanuts were available, with prices quoted at Rs 1338 per 20 kg. Despite this, trading activity was subdued as farmers were reluctant to sell at this price point. It is anticipated that regular arrivals in North Gujarat will commence after May 15.
Today witnessed the arrival of approximately 16660 sacks (1 sack = 35kg) in the Gondal Mandi. Prices for average quality groundnuts ranged between Rs 1211-1356, while the best quality commanded prices of Rs 1236-1390 per 20 kg. Notably, groundnuts of crushing quality, specifically BT-32, were priced around Rs 1250 per 20 kg.
In the Rajkot Mandi, 7000 bags were received today. Prices for average quality groundnuts ranged from Rs 1125-1285, while the best quality fetched prices of Rs 1125-1329 per 20 kg. Saurashtra witnessed the arrival of approximately 25,000-30,000 bags of peanuts today.
(By Commoditiescontrol Bureau; +91-9820130172)
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