Nuts

Peanuts: new challenges

February 20, 2023 at 11:18 AM , Der AUDITOR
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NEW DELHI. While suppliers in India have been bickering with importers in China over the prices for peanut oil for weeks, some movement is now being perceived. A new problem has, however, confronted oil producers.

Problem is

Several factors have, in fact, stimulated trading. China most importantly signed contracts for more than 250 containers of peanut oil with rates varying at USD 2,030-2,040/mt last week. Interest has surged in the country after the lunar new year not only for oil but also for peanuts. Although this is exactly what suppliers in India had hoped for, trouble now is that oil is in short supply, particularly for free fatty acid oil (2%). Challenge for oil producing facilities is that if they buy peanuts at the present rates, selling oil at attractive prices will become difficult in future transactions.

Prices set to rise

Although domestic demand is still very much subdued at the consumer end, producer demand for high quality seeds has peaked, which is supporting the market. Vietnam, in addition, bought large volumes of bold 50/60 peanuts in India in January and some local suppliers have raised their prices to USD 1,420-1,430/mt. Export prices may have remained firm in recent weeks but are presently expected to rise by 4-5% in the next two weeks if demand from China continues at the present rate.

Peanuts, with skin

Type

USD/mt

Bold, 40-50

1,390

Bold, 50-60

1,350

Bold, 60-70

1,335

Java, 50-60

1,485

Java, 60-70

1,400

Java, 70-80

1,405

FOB India, non-EU quality

 

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price chart, peanuts, with skin, 40/50, Bold, India
price chart peanuts, with skin, 50/60, Java, India
price charts for nuts, dried fruit, oilseeds and many more products

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