Ahmedabad, March 19 (Commodities Control): Groundnut prices in Gujarat have remained stable over the past two days despite increased supply due to rising temperatures in the Saurashtra region.
Millers purchase lower-quality groundnuts for crushing due to export demand for lower-grade oil. Analysts predict prices could drop by Rs 10-15 per 20 kg as miller demand decreases.
"The influx of groundnut into Rajkot and Gondal mandis has been significant due to the heatwave," notes a local broker. "This short-term stability may not last as supply continues to outpace demand."
The sowing of the summer groundnut crop has been slower than usual, which could be supportive of the prices.
Gondal mandi: 11365 bags arrived (1 bag = 35kg). Average quality: Rs 1211-1321/20kg, Best quality: Rs 1241-1246/20kg.
Rajkot mandi: 10000 bags arrived, 7000 bags pending. Average quality: Rs 1020-1240/20kg, Best quality: Rs 1000-1320/20kg.
(By Commoditiescontrol Bureau; +91-9820130172)
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