Groundnut Outlook – September 2023

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Groundnut Outlook - September 2023

Agricultural Market Intelligence Centre, PJTSAU Page1

Groundnut Outlook – September 2023

Groundnut is an important oilseed crop in India which occupies first position in terms of area and second position in terms of production after soyabean. China ranks first in groundnut production with 18.36 million tonnes followed by India 10.24 million tonnes, Nigeria 4.61 lakh tonnes, United States of America 2.90 million tonnes and Sudan 2.36 million tonnes accounting for 34, 19, 9, 5 and 4 percent of total world production of 53.97 million tonnes in 2020-21. According to the third advance estimates of 2022-23, Government of India groundnut production is estimated at 102.82 lakh tonnes as compared to 84.34 lakh tonnes in 2021-22.

Table 1: State wise area under groundnut in India

State

2022-23 2023-24

Area (lakh

ha)

Area (lakh acres)

% to total area

Area (lakh

ha)

Area (lakh acres)

% to total area

Gujarat 17.08 42.21 37.96 16.35 40.40 37.39

Rajasthan 7.90 19.52 17.56 8.69 21.47 19.87

Madhya Pradesh 4.51 11.14 10.05 5.40 13.34 12.34

Karnataka 3.70 9.14 8.22 3.13 7.73 7.15

Andhra Pradesh 5.38 13.29 11.95 2.93 7.24 6.70

Telangana 0.06 0.15 0.13 0.05 0.12 0.11

Others 6.67 16.48 14.76 7.18 17.74 16.42

All India 45.30 111.17 100.00 43.73 108.06 100.00

Source: www.agricoop.gov.in

According to the all India kharif crop coverage report, Government of India, as on 8^th September 2023, groundnut was sown in around 43.73 lakh hectares as compared to last year (45.30 lakh ha). Among the states, Gujarat stood first in area coverage with 16.35 lakh ha followed by Rajasthan (8.69 lakh ha), Madhya Pradesh (5.40 lakh ha), Karnataka (3.13 lakh ha) and Andhra Pradesh(2.93 lakh ha).

Table 2: State wise Wholesale Prices Monthly Analysis for Groundnut August, 2023

State Prices

August, 2023

Prices July, 2023

Prices August, 2022

% Change (Over Previous

Month)

% Change (Over Previous

Year)

Andhra Pradesh 7185 6690 5698 7.4 26.1

Gujarat 7363 7308 6026 0.75 22.19

Karnataka 6737 6374 5824 5.7 15.68

Madhya Pradesh 5473 6048 4926 -9.51 11.1

Maharashtra 7110 7333 5902 -3.04 20.47

Rajasthan 6610 6375 5480 3.69 20.62

Telangana 5939 5690 5407 4.38 9.84

Uttar Pradesh 6080 6360 5329 -4.4 14.09

West Bengal 9669 9442 7528 2.4 28.44

Average 7017 7426.93 6029.31

Source: https://agmarknet.gov.in

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Table 3: District wise area under groundnut in Telangana State

Districts

2022-23 2023-24

Area (ha)

Area (acres)

% to total area

Area (ha)

Area (acres)

% to total area

Gadwal 2420.02 5980 40.43 2592.82 6407 53.34

Wanaparthy 1087.80 2688 18.17 1101.15 2721 22.65

Warangal 1428.14 3529 23.86 411.97 1018 8.48

Nagarkurnool 134.76 333 2.25 163.49 404 3.36

Suryapet 214.48 530 3.58 147.31 364 3.03

Others 700.11 1730 11.70 443.94 1097 9.13

Telangana 5985.31 14790 100.00 4860.69 12011 100.00

Source: www.agri.telangana.gov.in

In Telangana, groundnut has been sown in around 12,011 acres as on 6^th September 2023. Among the districts, Gadwal stood first in groundnut sown area with 6,407 acres followed by Wanaparthy (2,721 acres), Warangal (1,018 acres), Nagarkurnool (404 acres) and Suryapet (364 acres). According to the 3^rd advance estimates, Telangana groundnut production estimate was 2.50 lakh tonnes (kharif 0.20 lakh tonnes and rabi 2.30 lakh tonnes) for 2022-23 as against 3.49 lakh tonnes (kharif 0.25 lakh tonnes and rabi 3.24 lakh tonnes) in 2021-22.

Table 4: Arrivals and Prices of Groundnut at Gadwal Market in the Month of August, 2023 Date Arrivals

(Quintals)

Minimum Price (Rs/quintal)

Maximum Price (Rs/quintal)

Modal Price (Rs/quintal)

1 1,019 3,500 6,699 5,410

2 1,100 3,529 7,400 5,289

3 1,253 3,509 6,911 5,069

4 1,135 3,501 6,877 5,450

5 700 4,259 7,211 5,969

7 714 4,669 7,611 5,969

8 659 4,619 7,811 5,989

9 529 3,780 6,781 5,062

10 464 4,060 7,391 5,699

12 567 3,569 6,420 4,959

14 856 3,469 6,656 5,269

17 952 4,580 7,861 6,229

18 1,535 3,370 7,470 7,312

19 355 4,260 6,526 5,269

21 439 4,369 7,546 5,520

22 322 4,226 7,216 6,469

23 128 4,016 6,880 5,269

24 256 4,889 7,411 5,929

26 90 4,769 6,469 5,419

28 164 3,670 6,727 5,510

29 91 4,039 7,456 4,870

30 222 3,150 7,450 4,930

Source: http://agrimarketing.telangana.gov.in

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Groundnut Price Outlook

Rajkot groundnut bold (average quality) weekly average prices went down by 7% at INR 7,033/Qtl as compared to 7,585/Qtl. Prices have declined to four month low ahead of new crop arrivals. Groundnut oil too corrected and went down by 2% at INR 1,870 from 1,905/10 Kg.

Under these circumstances, Agricultural Market Intelligence Centre, PJTSAU expects that groundnut may trade in a range of Rs. 5600–6000 per quintal during the month of September 2023.