The government has procured over 13.38 lakh tonnes of groundnut at the minimum support price (MSP)in the kharif 2024-25 marketing season till mid-February.
Per data from the National Agricultural Cooperative Marketing Federation of India (Nafed), bulk of the procurement has been carried out in Gujarat, where the government agencies have procured over 9.22 lakh tonnes (lt) between November 11, 2024 and February 14, 2025.
Similarly in Rajasthan, the purchases of groundnut at MSP stood at over 3.42 lt. The procurement is still going on in Rajasthan and may end this month. In Uttar Pradesh, over 71,449 tonnes have been purchased and in Karnataka, over 2,053 tonnes have been procured at MSP.
20% output rise
Per the first advance estimates the production of groundnut during kharif 2024 season is estimated to be a record 103.60 lt — about 20 per cent more than 86.60 lt a year ago.
A record production has led to a decline in prices this year. The modal price in various markets of Gujarat, the largest producing State, ranges between ₹4,100 and ₹5,400 per quintal, lower than the MSP. The government has declared a MSP of ₹6,783 per quintal for groundnut for the kharif 2024-25 marketing season.
Government agencies have also procured over 14.73 lt of soyabean at the minimum support price of ₹4,892 per quintal till February 11 this year. Over half of this procurement has been made in Maharashtra, followed by Madhya Pradesh and Rajasthan.
Per Nafed data, the soyabean procurement at MSP stood at over 8.36 lt in Maharashtra, while it exceeded 3.88 lt in Madhya Pradesh. In Rajasthan, the procurement stood at 98,866 tonnes, while in Telangana it was 83,075 tonnes. In Gujarat, the soyabean procurement by the government agencies stood at over 48,054 tonnes, while in Karnataka it was 18,282 tonnes.
The purchases by the government doesn’t seem to have had any impact on the mandi prices, which continue to rule below the MSP. Per the first advance estimates released in November, the government is expecting the soyabean crop for 2024-25 at 133.60 lt — up from 130.62 lt a year ago.
Nafed data also revealed that around 3,272 tonnes of sunflower seeds have been procured at MSP mainly in Karnataka.