North Gujarat's Summer Peanut Crop: Income to Increase in Deesa, Prices Likely to Drop
High Peanut Production in North Gujarat
Jayesh Acharya, President of the North Gujarat Oil Mill Association, stated that North Gujarat, including Banaskantha, is expecting a summer peanut crop of 75,000 tons. In contrast, Saurashtra has no peanut crop this year, with lower income. The entire state of Gujarat is estimated to produce 100,000 tons of peanuts, primarily from Banaskantha and Sabarkantha. The quality of the peanut crop is good, indicating a robust yield.Expected Decrease in Prices as Supply Increases
- Currently, Deesa is receiving 40,000 to 45,000 sacks in two to three days, expected to rise to 60,000 to 65,000 sacks in the next few days.
- Peanut prices are at $0,76 to $0,79 per kg for summer peanuts and $0,81 per kg for number 24 peanuts.
- With increased income, prices are expected to drop by $0,04 per kg, with no further significant decline anticipated.
- Current prices for 50-60 counts peanuts are $1,19 per kg and $1,12 per kg.
- For 80-90 counts, expected to decrease by $0,03 per kg.
High Yield and Incoming Revenue Boost Market
- Uttar Pradesh is projected to produce three lakh tonnes of peanuts, with revenue starting in 10 days and business commencing in Gujarat within 15-20 days.
- The Mainpuri region of UP is seeing good peanut crops, with prices at $0,49 to $0,67 per kg, and income expected to rise after a week.
- Quality depends on rainfall, with prices for 60-70 counts at $1,10 to $1,11 per kg, expected to fall to $0,99 per kg.
Impact of Reduced Income and Stock Levels
In Gujarat, summer peanut crop is minimal in Saurashtra, with income dropping drastically in areas like Mahuva and Talaja. Farmers who planted in summer have seen good yields, with prices between $0,76 to $0,79 per kg. Peanut cultivation has increased in traditionally cotton-growing areas, indicating a shift in agricultural trends. With good rain until June 22, peanut sowing is expected to cover 80% of the area, reducing cotton cultivation significantly. Old stock of peanuts is low, with an expected carryover stock of three to five lakh tonnes, and prices for old peanuts between $0,67 to $0,70 per kg.North Gujarat's peanut production shows promising growth, with stable income and slight price adjustments anticipated. The market is adapting to increased peanut cultivation, shifting from traditional crops like cotton.
