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Peanuts: disappointment over government decision

May 30, 2023 at 4:58 PM , Der AUDITOR
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NEW DELHI. The Indian government's decision to lift import duties on soybean and sunflower oil is weakening the peanut market and disappointing growers. This is compounded by the prospect of a large peanut crop.

Prices continue to decline

After the steep drop in recent weeks, prices in the Indian market have again fallen slightly. Growers are disappointed by the government's decision to lift import duties on various agricultural products, which had just started to support the peanut market. This is slowing trade and is likely to drive prices down further. In addition, there is likely to be a large crop: in Gujarat, 70,000-80,000 mt are expected, in Uttar Pradesh even 200,000 mt. West Bengal is also likely to achieve a record production.

High edible oil impor

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