Peanuts: Festival season Demand hike Prices in domestic market.
October 12, 2017 at 7:12 PM ,
Rainbow Exports
Indian Peanut Over View:
In Gujarat, new peanuts start in the beginning, rolls down
In few markets of Gujarat, the arrival of new peanuts has started in the last one week and the prices have come down from last year's level.
In the Gondal Mandi of Gujarat, the new peanut of the new peanut is close to 25000sacks which was 12-15 thousand sacks (per bag 35 kg) in the same period last year. New peanuts are being diverted US$423 to 650 per mt. for inshell Peanuts., which is week US$40 per mt. from the same time of last year. Traders say that after Diwali, it is expected to increase inward by reaching 50000 sacks (bags) daily.
Similarly, in the Junagadh mandi, 2500 sacks of new peanuts are coming every day, which was in the same time last year 800-1200 sack. New peanuts are sold at US$ 530 per mt., which is soft to US$Rs 70 per mt. from the same time of last year.
In the current kharif season, groundnut production is expected to be around 3 million tonnes, which was 2.0-2.2 million tonnes in the previous year. The new moisture content in the peanut is 17-18% whereas its average range is 7-8%
Due to festival season demand Peanuts Prices has gone up in domestic market.
In Delhi wholesale market there is demand for Peanut and due to that price has gone up Rs.200 per 100 kg. There is movement noted in other oil seeds also. Prices have gone up about 2000 to 3000 overall.
China Overview:
Domestic Peanuts Prices in china different regions range from US$731 to US$1225 per mt.
Market Analysis: The transaction of the domestic peanut is light generally. And the price is stable mostly. Only in some areas the price is higher. The weather in the production area is not good. Sometimes it is rainy. The quality is affected. The supply of the dry good peanut is limited. It makes the price of the peanut stable with a light rise.
Even though the price is higher in some areas, it is not possible to be increased much. The main reasons are as followings:
- There is still much moisture in the peanut. The wet peanut can’t be stocked for a long time. So it is difficult to be the transaction peak. The price will be difficult to be increased too much.
- In the view of the purchasing quantity in the last year and the sales quantity of the cooking oil, there is still much inventory in the oil plants.
- The planting area of the peanut becomes bigger this year. The total production will be increased. Besides, this year, the farmers don’t expect a higher price and are willing to sell the goods.
- In the domestic market, the general demand becomes less. The price acceptable ability is limited.
- In some production areas, affected by the continuous rain in the harvest period, the quality is worse and there is a rich of the supply. There is a big pressure on the purchasing. It affects on the price of the peanut with good quality.
Above all, in a short time the peanut market will still keep light. There will not be big fluctuation. In the later period, we should pay more attention on the followings:
- The purchasing quotation from the oil plants and the actual purchasing.
- The attitude of the farmers’ selling after the harvest.
View related articles
