Groundnut prices in India increase by 20% as rains delay new crop

Groundnut prices have increased by about 20% in a month as the arrival of new kharif crops will be delayed due to heavy rainfall in Gujarat, the top producer of groundnut in the country.The average retail prices for the average quality peanuts are ruling around Rs. 160/kg to 180/kg in different parts of the country.We observe an increase in peanut prices every year during the monsoon season. However, this year, there is a big increase of Rs 20-25/kg within a month, said Rajesh Barmecha, a second-generation wholesale trader of peanuts from Pune.The prospects of delay in supplies of new crops at a time when the carry forward stock of previous year is low have supported the recent rise in prices. Kishore Tanna, director, Groundnut Panel Convenor, Indian Oilseeds and Produce Export Promotion Council (IOPEPC) said, “The prices of groundnut have increased due to the recent spells of heavy rainfall in the groundnut growing states, especially Gujarat. Although this rainfall will help ...