Smaller area, arrivals likely to raise groundnut prices: TNAU

According to a price forecasting program funded by Tamil Nadu Agricultural Research Centre’s TN-IAM project, groundnut prices are likely to rise due to lower area under the crop and reduced arrivals from major producing states due to heavy rains. University, Coimbatore. The price forecasting team analyzed the historical prices prevailing in the Tindivanam regulated groundnut market for the last 16 years. According to the analysis and market research results, the farm price of good quality groundnut would be around ₹ 80-85/kg during the harvest.

However, the price may change depending on market arrival and monsoon. Farmers are therefore advised to make their seed decision accordingly. Current arrivals are from Telangana, Andhra Pradesh and Karnataka, according to business sources. Groundnut area and arrivals are very low in major producing countries due to heavy rains. Groundnut is an important oil crop in India, ranking first in area and second in production. In the world, China is first in peanut production, followed by India, Nigeria, the United States, Sudan and Senegal.

Areas

The Crop Forecast Coordination Center (CFCC) estimates that the area will decrease from 45.53 lh (lh) in 2022-23 to 43.91 lh in 2023-24 lh and 74020 lh. -23 – 2.83 lh in the Rabi season 2023-24. Tamil Nadu is one of the largest groundnut growers in the country. According to the Ministry of Agriculture and Farmers Welfare (2021-22), groundnut production in Tamil Nadu is 10.47 lakh tonnes (lt) in an area of ​​3.72 lakh hectares. Tiruvannamalai, Villupuram, Vellore, Kancheepuram, Tiruvallur, Cuddalore, Namakkal, Krishnagiri, Salem and Dharmapuri are the main growing areas of Tamil Nadu.

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