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Groundnut projected at 4800 per quintal
India is the second largest producer of groundnut in the world. On the global front, China leads in production, making up some 42 per cent of overall production. India (12 per cent) and the US (8 per cent) follow it.
India is the second largest producer of groundnut in the world. On the global front, China leads in production, making up some 42 per cent of overall production. India (12 per cent) and the US (8 per cent) follow it. Although India and China are the world’s largest producers of groundnut, they account for a small part of international trade, because most of their production is consumed domestically.
Major producers / exporters of groundnut are the US, Argentina, Sudan, Senegal and Brazil, while the major importers are EU, Canada and Japan. For this year 2016-17, groundnut in shell production target is around 80 per cent for kharif season and rest for rabi season. Gujarat has record groundnut sowing, on over 16.4 lakh hectares and production is expected to be one of the highest in three years around 26 lakh tonnes.
To help the farmers in taking sowing decisions in 2017 kharif, the Agricultural Market Intelligence Centre of S. V. Agricultural college, Tirupati has forecasted groundnut prices at harvest using econometric analysis of modal prices of Kurnool market. Coupled with market survey and considering the present market sentiments, the kharif harvest prices (2017) are likely to be ranging between Rs. 4,600 to 5,000 per quintal.
