AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityGroundnut

Date01/11/2013

Policy CategoryStocks

Policy InstrumentPublic procurement

DescriptionSet to resume state procurement following this year\'s bumper crop.

NotesINDIA – groundnut procurement: Not used since 2001, state procurement of groundnuts is set to resume following this year’s bumper harvest which drove local prices for the crop below the government’s minimum support price. With market prices reported between 30 000 and 37 500 Rp per ton (unshelled basis) – as against the farmer support price of 40 000 Rp (USD 653) – local purchase operations on behalf of the central procurement agencies are ready to start, notably in Gujarat, the nation’s main groundnut growing state.