Farmers frustrated by poor price of peanuts

Peanut farmers in the greater Rangpur region have been left disappointed this year as prices for their produce are far below the expected level of Tk 7,000 to Tk 7,500 per maund (37 kilogrammes).

The legume crop is currently selling for Tk 5,000 to Tk 5,500 per maund in local markets, down by at least 30 per cent compared to Tk 6,500 to Tk 7,000 during the same period in 2021.

Amjad Hossain, a farmer who brought 12 maunds of peanuts for sale at the Durakuti Market in Lalmonirhat sadar upazila, said he was able to sell just 4 maunds of his produce.

Hossain had grown 30 maunds of peanuts on 6 bighas of land last year, when he sold the entire harvest for Tk 2.10 lakh at Tk 7,000 per maund.

This year though, Hossain got a total of 31 maunds of peanut from the same amount of land but is having to sell it for just Tk 5,200 per maund.

"I had hoped to sell peanuts at a slightly higher price this year, but I am disappointed as the price is lower," he added.

Nazir Hossain, a farmer of Chalbala village in Kaliganj upazila of Lalmonirhat, said each bigha of land produces about 5 maunds of peanut at a cost of Tk 15,000 to Tk 18,000.

He went on to say that although peanut is usually a profitable crop, not all farmers can engage in cultivation as it required high, flat and fertile land.

Nazir produced 32 maunds of peanuts on 7 bighas of land this year at a cost of Tk 1.12 lakh. He has sold 10 maunds of the crop for Tk 5,000 per maund so far and plans to withhold the remaining 22 maunds until prices improve.

According to sources at the Department of Agricultural Extension (DAE), peanut was cultivated on 19,800 hectares of land across 5 districts -- Lalmonirhat, Kurigram, Gaibandha, Nilphamari and Rangpur -- with a production target of 32,600 tonnes this year.

Many peanut farmers had increased their acreage in anticipation of better prices. The peanuts produced in Rangpur are sent to different parts of the country, including the capital Dhaka.

Nader Ali Sarkar, a farmer of Jorgach village in Kurigram's Chilmari upazila, said he cultivated 64 maunds of peanuts on 13 bighas of land this year after getting the expected prices for his produce in 2021.

And while the increased price of fertilisers, pesticides and wages paid to labourers have added to the cost of peanut cultivation this year, market prices for the produce are lower than what they were previously.

"There is a lot of supply of peanuts in the market but not many wholesalers," he said, adding that farmers are being forced to sell the legumes at lower prices in order to meet their daily needs.

Sagir Hossain, a trader at Jorgach market, said the demand for peanuts has decreased in different wholesale markets across the country, including Dhaka, Bhairab, Noakhali, Bogura and Faridpur.

"As most big merchants are buying peanuts from wholesalers at cheap prices, the wholesalers themselves are paying less to farmers," he added.

Suresh Chandra Das, a wholesaler from Bhairab, said they still have last year's peanuts in stock and so, they are not buying much this year.

"Apart from this, the price is low as the supply has increased due to good yields," he added.

Biplab Kumar Mohanta, deputy director of the DAE in Kurigram, said peanut farmers got good yields this year due to favourable weather.