Saurashtra's new groundnut boom starts, Singoil partially declines after surge

Singtel reaches maximum price of 3180 cans to 3050 in-season prices: Groundnut harvest estimated at 40 lakh tonnes in Kharif season this year: Rajkot, Gondal yards record 83,845 maunds in a day

Rajkot, : In the current 2023 kharif season in Gujarat, groundnut crop is about 40 lakh tonnes with 16.36 lakh hectares planted, while tons of new groundnuts have started to be harvested in Saurashtra's market yards before Navratri. Along with this, the prices of Singoil have taken to extreme heights and today more than Rs. 15 in 11 days with a reduction of Rs. 130 has been partially reduced. However, with cotton, palm oil prices less than half against singeoil, the domestic market price of singeoil is likely to remain low unless significant reductions are made.

2404 sq. in Gondal Yard today. 10,469 quintals including gini and 8065 quintal thick and in Rajkot yard including 1800 quintal thick and 4500 quintal gini groundnut totaling 16.77 lakh kg i.e. 83,845 maunds of groundnut in 2 yards has been recorded in a day.

Good quality groundnuts are fetching higher prices in the market than the support price of groundnuts. Per maund (of 20 kg) of thick groundnut in Rajkot yard at Rs. .1090-1415 and Gini Groundnut Rs. 1050 to a maximum of Rs. 1600 was received by the farmers.

Now that there is dry weather in Gujarat and it is becoming convenient to bring the groundnut crop to the market, there is still a possibility of a partial reduction in the price along with the increase in income by Navratri.

Singoil prices, though oilseeds have already pushed them too high, seem to have a tendency to keep prices higher in the groundnut-oil season itself. Last Date On September 20, in rainy weather, the prices of Singoil cans reached this season's highest of Rs. 3130-3180 in which till date Rs. 130 reduced to Rs. It has come down to 3000-3050. But, against this, a can of cottonseed oil costs Rs. 1510-1560 and palm oil Rs. When it is sold at the price of 1340-1345, it is unlikely that the poor and the middle class will buy Singtel.