In Rajkot market on Wednesday, the price of Groundnut bold premium was recorded at INR 7,210/Qtl. However, over the past few days, prices of groundnut seed have seen an 8-10% decline, while groundnut oil prices have corrected by 6-8%. This can be attributed to the decreasing prices of other edible oils such as mustard oil, palm oil, and soy oil. Due to the shift in demand towards discounted edible oils, the demand for groundnut oil has been affected, thus resulting in a decline in groundnut prices. As per current market trends, the average price of groundnut is likely to trade in a range of INR 7,000-7,500/Qtl in the short run. It is important to note that market trends are subject to change based on various factors such as global supply and demand, geopolitical events, and weather conditions.
( Source: Agriwatch )