 "Indicus price monitor")
Commodity for the week: Groundnut
The 2nd Advance Estimates for 2013-14 have pegged production at 9.1million tonnes, the second highest ever since the record of 9.2 million tonnes in 2007-08. The output was almost double the 4.6 million tonnes in 2012-13. Prices have moderated significantly. Moreover, the minimum support price (MSP) for 2013-14 had been set only 8 per cent higher than the previous year, keeping price pressures low in 2013. For the current year, the ministry has not suggested any rise in MSP.
The all-India average wholesale price of packed groundnut oil had peaked at Rs 12,609.56 a quintal in February 2013 and has steadily fallen, dropping to Rs 11,182.34 a quintal in April. While the market conditions have turned around this year, the Agricultural and Processed Food Products Export Development Authority has now relaxed certification norms for some countries, making it easier for small-scale firms to enter the global markets.
The 2nd Advance Estimates for 2013-14 have pegged production at 9.1million tonnes, the second highest ever since the record of 9.2 million tonnes in 2007-08. The output was almost double the 4.6 million tonnes in 2012-13. Prices have moderated significantly. Moreover, the minimum support price (MSP) for 2013-14 had been set only 8 per cent higher than the previous year, keeping price pressures low in 2013. For the current year, the ministry has not suggested any rise in MSP.
The all-India average wholesale price of packed groundnut oil had peaked at Rs 12,609.56 a quintal in February 2013 and has steadily fallen, dropping to Rs 11,182.34 a quintal in April. While the market conditions have turned around this year, the Agricultural and Processed Food Products Export Development Authority has now relaxed certification norms for some countries, making it easier for small-scale firms to enter the global markets.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%