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Farmers to get Rs. 3700-4200 per quintal of kharif groundnut at harvest in Raichur Market

Groundnut is one of the important oilseeds in the world today. It is called as the ‘king’ of oilseeds and is one of the most important food and cash crop of the country, contributes around 45 percent of the total oilseed production in the country. To take the right decision about selling of Kharif groundnut, 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 20 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 October-November, 2013 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 20 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 during October and Rs. 4000-4200 during November and Rs. 3800-4100 in the month of December per quintal. This forecast prevails for current market sentiments and is liable to vary with changes in market situations.  Bold seeded, cleaned, well dried pods with high oil content are going to fetch higher prices.  So farmers are advised to keep all these suggestions in mind while preparing the product for the market.

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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.