Peanuts: Chinese importers are mollified

May 22, 2023 at 2:42 PM , Der AUDITOR
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NEW DELHI. The Chinese peanut oil importers, who have been complaining about the poor quality of Indian shipments, have now reached an agreement with the sellers. The massive price hike for Indian peanuts has nevertheless come to an end for the time being.

Peanut trade gets a damper

After the massive price jump last week, there have now been slight declines again on the Indian peanut market. It is most likely that this is a reaction to the lifting of import duties on soybean and sunflower oil decided by the government. The import duties, which were introduced as part of the Tariff Rate Quota (TRQ) on 1 April, had supported the peanut market; in return, the lifting on 1 June will now dampen trade for an estimated three to four weeks.

Demand for peanut oil remains low in the domestic market, but issues with Chin


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