Peanut Market News February 13, 2019
Amid disappointing returns for groundnut farmers, the oil processors body, Saurashtra Oil Mills Association (SOMA) has approached the Commission for Agricultural Costs and Prices (CACP) to push for the consumption of groundnut and its products, as against making yet another effort of hiking the minimum support prices (MSP).
Market prices have tumbled to ?4,400 a quintal in Gujarat markets, as against the MSP of ?4,890.
In a meeting with Vijay Paul Sharma, chairman, CACP, representatives of SOMA led by President Samir Shah suggested encouraging groundnut and groundnut oil consumption to provide a price support. Shah stated that a mandatory provision should be made to distribute local or domestic edible oil through the Public Distribution System (PDS) and not imported edible oils as being done at present.
Also, SOMA urged that all State governments and related agencies be instructed to use domestic edible oils while preparing mid-day meals.
SOMA also demanded for support in infrastructure for groundnut farmers. A facility to store crops with a token rate was proposed, with 60 per cent advance arranged against the stored goods on a token interest.