Groundnut auction fetches up to ₹7,450 a quintal at the cooperative yard

Groundnut growers from Rasipuram and nearby villages received better prices at the weekly auction held at the cooperative marketing society's yard, with top-quality pods fetching up to ₹7,450 a quintal. About 1,400 bags of groundnut arrived for the auction, and the average price settled at ₹6,900 a quintal. Traders from Salem, Erode and Tiruchengode took part in the bidding, which was conducted through sealed tenders. Staff at the yard said that farmers who dried their produce well and brought it in clean bags got the best rates. Payment is credited directly to the farmers' bank accounts within two working days. The next auction will be held on Wednesday. Farmers are requested to register their arrivals at the yard office a day in advance.