Nuts

Peanuts: new challenges

February 20, 2023 at 11:18 AM , Der AUDITOR
Play report as audio

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

 

View more
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

Categories:

View related articles

Go to the News Overview
Oilseeds
Apr 25, 2024
NEW DELHI. In India the prospects for sesame seeds are highly encouraging. On 04 May the Indian Oilseeds and Produce Export Promotion Council (IOPEPC) will issue a first estimate for the summer crop. Weak demand is, however, proving a challenge for exporters.
Oilseeds
Apr 25, 2024
SOFIA/KYIV. The European Parliament has voted in favour of extending the duty-free regime for imports from Ukraine. Sowing in Ukraine is about a quarter complete.
Oilseeds
Apr 24, 2024
OTTAWA/BRUSSELS. In Canada, growers are beginning preparations for the mustard seed sowing season. Meanwhile, market players in the EU are concerned about the supply situation in the new season.
Nuts
Apr 24, 2024
MANILA. Lower raw material production due to El Niño, rising freight costs and geopolitical tensions are just some of the hurdles the coconut market has to face. Market players are correspondingly cautious.