Trade and markets
 

Detail

Area
India
Commodity Group
Oilseeds, oils and meals
Commodity
Groundnuts, soybeans
Date
01/10/2017
Policy Category
Stocks
Policy Instrument
Public procurement
Description
Initiated public procurement of i) groundnuts in the State of Gujarat, and ii) soybeans and groundnuts in the State of Rajasthan.
Notes
In Gujarat state, public procurement of groundnuts is scheduled to begin on 25 October, government officials informed. Local coconut producer cooperatives (designated by the state-level procurement agencies) will be in charge of the operations. Reportedly, unshelled groundnut will be procured at a rate of INR 45 000 per tonne, as against the prevailing market price of INR 31 250 per tonne (respectively USD 688 and 478). Similarly, in Rajasthan state, public procurement of soybeans and groundnuts commenced in October. Reportedly, 29 procurement centers are operational for groundnuts and another 25 for soybeans. To facilitate operations, farmers can submit applications online and payments will be made directly into their account, Government officials informed. The support prices for soybeans and unshelled groundnuts will be, respectively, INR 30 500 and INR 44 500 per tonne (respectively, USD 466 and 680).