Ahmedabad, April 3 (Commodities Control): In a significant market development, the peanut prices in Ahmedabad today witnessed an upswing of 10-15 rupees per 20 kg. This increase is attributed to a robust demand in the peanut oil segment, according to market traders. The limited transactions in the loose peanut oil market have spurred a heightened demand for peanuts, culminating in a bullish trend in prices.
Market experts indicate a general upturn in the edible oil sector, with a special emphasis on the peanut oil market. The activity by major brands in the peanut oil trade has been a crucial factor in stabilizing and supporting the market dynamics. Although the end of March saw a tepid trading volume from these brands, anticipations of a renewed surge in their business activities this week are likely to propel the prices of loose peanut oil to approximately 1500 rupees per 10 kg. This trend is expected to lend further support to peanut prices.
In today's trading session, the Gondal market reported an arrival of about 1100 bags (1 bag=35kg), with prices ranging from 1141-1261 rupees for average quality peanuts and 1181-1361 rupees for the best quality, per 20 kg. Similarly, the Rajkot market observed an arrival of 12000 bags with an additional 5000 bags pending. The prices in this market hovered between 1120-1242 rupees for average quality and 1140-1362 rupees for high-quality peanuts per 20 kg. The overall arrival in the Saurashtra region was estimated to be around 25000-30000 bags.
The scenario in other centers remained subdued with negligible arrivals. The market is likely to experience a limited supply until the onset of the summer peanut harvest. The peanut supply from the Vyara region is projected to commence in May, potentially influencing the market trends further.
(By Commoditiescontrol Bureau; +91-9820130172)
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