Nuts

Peanuts: various factors dampen trade

February 5, 2024 at 12:06 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. The peanut trade is currently rather quiet in India, but also in other important producing countries such as Argentina and China, for various reasons. These include the crisis in the Red Sea, exchange rates and the upcoming Chinese New Year.

Peanut oil purchases save the day

Trading in the Indian peanut market remains subdued and market players expect this to continue for another three to four weeks. Nevertheless, prices are showing a slight upward trend of USD 10/mt compared to last week, which is due to the fact that larger orders for peanut oil have been received for February and March. The price for this has climbed from USD 1,700/mt to USD 1,750/mt, dragging peanut prices with it. However, the price increases are being curbed by the massive influx of new goods from the growing states of Karnataka,

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