Peanut : India's peanut exports will increase 10 percent in the year 2017-18
September 21, 2017 at 9:06 AM ,
Rainbow Exports
India's peanut exports will increase 10 percent in the year 2017-18
Mumbai: India's peanut seed exports reach 10 million tonnes in 2017-18 (November-October) of 70.7 million tonnes. The reason for this hike is that the initial purchase question of Vietnam and China is better.
Traders said that Asian countries are the main purchasers of Indian Peanut Kernels but next month the demand for groundnut oil will remain sluggish. The price of groundnut oil will remain sluggish in the domestic market due to high carry-over stock and demand for overseas buyers will be weak. They said that by the end of October, the price of groundnut oil will fall ten per cent, which is currently US1170 per mt.
At the end of the current season i.e. at the end of September, the peanut kernels stock will be close to 300,000 tonnes, whereas last year it was negligible. However, due to good festive demand, it will help to stop falling further in the end of September from this level.
It is been talked among traders that this year the peanut crop will be less than last year because its sowing has decreased. Farmers have turned towards other crops due to non-availability of good prices, due to which the groundnut oil can stop going further down.
According to the Ministry of Agriculture, so far, groundnut has been sown in 4.1 million hectares in the country, which is 12 per cent lower than last year. In the year 2017-18, under groundnut crop, groundnut production is estimated to be 5.1 million tonnes, which was 5.4 million tonnes in the last kharif season.
Rains continue in the growing area of Gujarat, which is major producing state and which may affect the quality as well as damages to the crop. Next coming 15days will decide what will be the exact situation of the crop. Since last Few day prices has gone up little.
Peanut Purchase Starting from October:
In Rajasthan this year, the procurement of groundnut will be done from October. Government sources said that the government has also instructed the farmers to purchase more and more. He said that for the purchase of Peanut 25 centers would be opened in the state. Considering the interests of farmers and the demand of the people, more buying centers can be opened.
According to sources, keeping in mind the problems in purchase, farmers have also been given the facility of online application through E-Friend Centers. Linking to Bhamashah card will be directly in the account of farmers. This purchase will be done under the PSS scheme, which will be the Nodal Department, Cooperative Department and Agency Rajfeed. He said that instructions have been given to the concerned agencies to make all the preparations for not having problems of storage and repair. The storage system will be arranged by the Rajasthan State Warehousing Corporation and Central Stores Authority Corporation, while the NAFED will provide rainy season. The central government will announce the support price this year.
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