Rajkot: With peanut farmers who adopt the waiting strategy and watch to get a better price for their products, Miller Saurashtra oil becomes anxious.
This is mainly because Miller’s oil find it difficult to get the amount of peanuts needed to meet the increasing export demand from Africa and China.
Saurashtra Oil Mills Association (SOMA), The Apex Miller Oil Agency in Gujarat, claimed that farmers sell their plants per their need and waited for commodity prices to appear.
Miller oil really wants to buy because they don’t have stock forward last year.
Last year’s peanut oil exports five times higher than usual due to crop failure in China.
This year, there are many questions from African and Chinese countries.
Pressur Desai, Exporters of Peanuts and Peanut Oils, “Every year in November I bought shares according to my needs from the market.
But this year I find it difficult to get the quantity I need because of the arrival in the lower market.” The Rajkot Market Yard Yang Regarded as Gujarat Tanah Tanah Trading Hub has also seen the arrival of low peanuts after Diwali Break.
Atul Kamani, President of the Association of Market Traders Rajkot said, “About 3.5 lakh bags (30 kg each) have arrived at the market for auction after the break.
Nearly 80% of buyers for stock are oil factories.
Prices for 20kg Groundnut have been dipped To Rs 950.
But with the increase in export demand, prices rise and become stable at Rs 1,150 / 20kg.
“Meanwhile, the government has also started registration to buy peanuts with a minimum support price (MSP) of Rs 1,110 per 20 kg.
According to Soma estimation, peanut production in Gujarat is expected to reach 34.4 lakh tons during the current Kharif season.
Although harvesting was damaged due to delayed rain and later because of the excess rain at the end of the season, the production was estimated almost the same as last year.
This is because Fotnut sow this year is in 20 lakh hectares against 16 lakh hectares in the previous year.
Kishor Viradiya, President Soma said, “The farmers who have sowed cotton and peanuts first sell cotton because of the good prices they get.
The farmers who have sowed only peanuts also do not sell all plants because they are waiting for a better price.
This is better It is a trend over the past five years.
Farmers currently sell their plants according to their needs.
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Oil Millers Fret As Farmers Wait for a Better Selling Price
