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Farmers to get Rs. 3700-4000 per quintal of Rabi groundnut at harvest in Raichur Market

Framers of Raichur areas are busy in preparing their lands for sowing of Rabi groundnut, one of the major oilseed crops of the region. But, price uncertainty at the time of harvest has kept them in bay and is in a fix to decide about sowing of the crop. In order to help the farmers, the Domestic and Export Market Intelligence Cell, Department of Agribusiness Management, University of Agricultural Sciences, Dharwad undertook a study to come up with reliable price forecasts of groundnut in Raichur market at the time of harvest.

          The 24 years monthly modal price data from Raichur regulated market was collected and analyzed using time series models and the prices for groundnut in Raichur market for the months of February-April, 2014 were forecast. The opinions of experienced traders, agricultural scientists and progressive farmers were collected to fine tune the forecast prices.  The prices in other major markets for this oilseed crop were also collected other than collecting the future prices from National Commodities and Derivatives exchange of India (NCDEX) to come up with accurate price forecasts.

          Therefore, according to the study conducted by using 24  years monthly modal price data from Raichur regulated market and keeping in view of the opinions and suggestions of the experienced persons in this crop, the prices of this crop for  Raichur market is expected to range between Rs. 3700–4000 per quintal during February-April, months.  The minimum support price announced by the central government for this crop is Rs. 3700 per quintal.  

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Please note that this is the opinion of the author and is Not Certified by ICAR or any of its authorised agents.