The Gondal Mandi, a key groundnut trading center, saw prices drop by 10-15 rupees per 20 kg today. This decline comes amidst a surge in arrivals, exceeding 25,000 bags, but failing to meet sufficient demand. The Rajkot Mandi saw limited activity, with trading focused on existing stock.
Gondal traders cite weak demand as the reason behind a parallel 20-25 rupee decline in groundnut oil prices, now trading at 1425-1450 rupees per 10 kg. The groundnut market is impacted by reduced groundnut oil consumption and lower export interest.
Today, the Gondal Mandi recorded average quality groundnut prices between 1181-1356 rupees and best quality at 1161-1356 rupees per 20 kg. Rajkot Mandi saw average quality prices at 1110-1241 rupees and best quality at 1095-1325 rupees per 20 kg. Overall arrivals in Saurashtra stood at 35,000-37,000 bags.
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