Arecanut price crossed 57 thousand Per Quintal
The price of groundnut is currently on the rise, which has brought happiness to the farmers. Rashi nut has crossed Rs 57000 per quintal in Channagiri and is around Rs 55-57 thousand in various major markets.
On July 14, Rashi Adike Dharana was sold at the highest price of Rs 57399 in Channagiri market. Even in Tumkur market, nut is around 56-57 thousand rupees. Nut stock in various markets has crossed 55 thousand and is increasing day by day.
The maximum price in Channagiri market is Rs 57399 which is the highest retention this year. It is estimated that there is a possibility that the nut storage will increase further in the coming days. However, it is not possible to estimate the price rise and fall with certainty.
Nut stock (per quintal) in various markets on July 15
| Order no | market | type | Minimum price | Maximum price | Average price |
| 1 | be cool | pile | ₹54032 | ₹57,399 | ₹54,911 |
| 2 | the knob | pile | ₹51,100 | ₹53,000 | ₹52,500 |
| 3 | Bantwala | Coca | ₹12,500 | ₹25,000 | ₹22,500 |
| 4 | Bantwala | Old vriety | ₹46,000 | ₹49,500 | ₹47,500 |
| 5 | Honnalli | pile | ₹55,499 | ₹55,499 | ₹55,499 |
| 6 | Puttur | A new variety | ₹34,000 | ₹42,500 | ₹38,250 |
| 7 | Shimoga | pile | ₹40,300 | ₹55,421 | ₹54,599 |
| 8 | Shimoga | goods | ₹56,100 | ₹77,700 | ₹73,100 |
| 9 | ocean | pile | ₹42,009 | ₹55,399 | ₹54,599 |
| 10 | ocean | red | ₹28,569 | ₹42,259 | ₹41,799 |
| 11 | sour | Red | ₹45,000 | ₹47,000 | ₹46,235 |
| 12 | Siddapur | TATTI Bette | ₹40,219 | ₹46,249 | ₹44,249 |
| 13 | Bangalore | Other | ₹55,000 | ₹60,000 | ₹57,500 |
| 14 | Sira | Other | ₹9,000 | ₹47,000 | ₹45,144 |
It is likely that the price will increase until the nut season starts again. If the increase in the price of groundnut is a loss to the farmers, there is also a fear that the price of groundnut will fall. Most of the farmers have already sold the groundnut and are deprived of the profit despite the price hike. Market experts are of the opinion that the withdrawal of 2000 note is also the reason for the increase in the price of nut.
Last year, groundnut storage reached a record high of Rs 65,000, the highest price recorded in recent times. Earlier, 10 years ago, groundnut had set an all-time record by increasing to Rs 85,000.
