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Peanuts: drought affects US crop

October 28, 2024 at 3:39 PM , Der AUDITOR
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NEW DELHI/ATLANTA. Arrivals of the new crop are steadily increasing on the Indian markets, but will now take a short break due to the Diwali festival. In the USA, drought could lead to crop damage.

Government purchases will influence the market

Indian peanut prices have been moving within a very narrow range for several weeks now. The main reason for this stagnation is the rather weak demand from China, as Chinese buyers are waiting for further declines, especially in peanut oil, before they stock up, even though prices from shippers are already around USD 300/mt lower than last year. As China will produce significantly more peanuts this season than last year, only demand for Indian peanut oil will increase in the near future.

Arrivals of the new crop

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