Current Market Scenario

The peanut market is currently stable, but there are signs of a potential shortage of good-quality peanuts in the near future. According to experts, this shortage is primarily due to the abundance of good-quality grains in Banaskantha, which has led to increased current sales. The prices for peanuts in Banaskantha are currently stable for 50-60-count grains. However, the availability of 80-90 count grains is becoming rare, narrowing the price difference between the two counts. As a result, prices may increase slightly in the near term.

New Crop and Rain Impact

In Mainpuri, Uttar Pradesh, the new peanut crop has begun, and the region has also experienced rain. If the rain subsides, the new crop cover will increase. This situation is causing a shift towards exporting business, especially towards Bengal, due to the excellent crops there. However, consistent heavy rain could damage the peanut crops, a common occurrence every year.

The peanut export business remains slow, especially with countries like Indonesia, the Philippines, and Vietnam. Mozambique's lower prices compared to India have made it a preferred source for Indonesian imports. Meanwhile, China's demand for peanut oil is flat this year, further affecting the export trends. Nonetheless, the monsoon is expected to bring good sowing conditions for peanuts, which could stabilize the market.

Uttar Pradesh Market Movements

In Uttar Pradesh, both old and new summer peanuts are being received. The daily income of peanuts is significant. The summer peanut crop is mainly grown in Mainpuri, Etawah, Jalalabad, and other centres, with a daily income expected to reach up to one lakh sacks. The peanut trade is currently performing well in Uttar Pradesh, with increasing demand from various centres.

Future Price Trends

The peanut crop in Mainpuri is expected to be similar to last year's yield despite a ten-day delay caused by excessive heat. As the festive season approaches, prices are expected to rise, improving the market outlook. The price of old TJ quality peanuts has decreased, but it is anticipated that demand in July or August will drive prices up. The overall market is expected to recover from any price falls due to increasing festive demand.

In Gujarat, the summer peanut crop has ended in most regions except Banaskantha, where 80% of the goods have already reached the market. The remaining 20% is expected to be marketed within ten days. In Uttar Pradesh, 20% of the new peanut crop has also reached the market, but income remains low due to the ongoing rains.

The peanut market is poised for changes in the coming months, with potential shortages of good quality peanuts and fluctuating prices. Exporters should closely monitor the weather patterns and market trends to make informed decisions. The festive season is likely to bring an increase in demand, stabilizing prices. Despite current challenges, the peanut market holds opportunities for growth, particularly in regions like Uttar Pradesh and Gujarat.