Spot market values for Indian peanuts are displaying renewed firmness across primary Gujarat mandis. Recent government announcements regarding Minimum Support Price (MSP) operations have established a crucial floor, stabilizing prices for export-quality Bold and Java peanuts.

Government Support Caps Downside at Major Gujarat Mandis

According to trade updates from APMC mandis in Gujarat, groundnut spot prices at Rajkot averaged around ₹7,240 per quintal (₹72.4/kg) for G20 and Bold varieties, while Jamnagar recorded spot averages near ₹6,925 per quintal. Open-market valuations had previously experienced minor downward pressure due to international competition and fluctuating monsoon patterns. However, the central government’s approval of targeted state-level pulse and oilseed purchases under the Price Support Scheme—including significant groundnut allocations—has effectively prevented distressed sales and tightened physical supplies available at lower quotes.

Impact on Export Benchmarks and Overseas Inquiries

Indicative export quotations for Indian origin peanuts have held resilient against international price dips. Java 70/80 count FOB offers from primary Indian processing hubs are trading in the vicinity of EUR 1.03/kg, while Bold 40/50 and 50/60 grades hover between EUR 0.96 and EUR 1.02/kg FOB. International buyers in Bangladesh, Southeast Asia, and the Middle East are watching local mandi movements closely, as domestic MSP backing reduces the probability of further discount offers ahead of the main kharif arrivals.

Strategic Outlook for Indian Peanut Exporters

For export firms operating out of Saurashtra and Morbi, the firm price floor ensures consistent raw material sourcing costs. Exporters can utilize this price stability to lock in contract commitments with buyers in Algeria, the UAE, and Malaysia who previously delayed purchasing in anticipation of lower post-monsoon prices.

Key Takeaway for Peanut Exporters:

Government MSP intervention has placed a firm floor under domestic groundnut prices, giving Indian exporters the confidence to contract forward shipments without fearing sudden domestic margin erosion.

Sources: Commodity Board, Commodity Online (Rajkot & Gujarat APMC Mandi Reports), KisanDeals