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Farmers to get Rs. 4100-4300 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. Framers of Raichur areas are busy in preparing
their lands for sowing of 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 20 years monthly modal price data from Raichur regulated market was collected and
analyzed using time series models and price forecasts were made for groundnut in Raichur market for
the months of August-September, 2013. 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. 4100-
4300 during August and Rs. 3800-4200 during September per quintal.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 cultivating and 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.