Source: Business Standard
However, regulations from APEDA that led to restrictions on exporters worked to bring down prices from January this year. Now with bountiful rains this monsoon, the 1st Advance Estimates have set output for the kharif crop of 2013-14 at 5.6 million tonnes.
While the MSP for 2013-14 is 8% higher than last year, the higher kharif crop and good rains boosting prospects for the rabi season has led to price moderation setting in. The all-India average whole sale price of packed ground nut oil that had been rising since 2009 peaked at Rs,12,609.56 a quintal in February, and declined to average Rs,11,938.31 a quintal in September. The retail price that averaged Rs,128.55 a kg in September is considerably lower than the peak of Rs,134.74 a kg in February and March.
IPM data till week ending October 5. The Indicus Price Monitor (IPM), a product of Indicus Analytics Pvt Ltd, tracks real-time wholesale prices for 60 agricultural products from 3,000 mandis. Due to differences in methodology, the IPM levels might differ from the Wholesale Price Inflation (WPI). However, broad trends are in sync.