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Peanuts: not a good start to the new year

January 8, 2024 at 4:22 PM , Der AUDITOR
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NEW DELHI. Various difficulties such as low demand, the attacks on cargo ships in the Red Sea and the war between Israel and Palestine are making life difficult for market players in the peanut market. The outlook for the near future is not exactly rosy either.

Prices continue to decline

Indian peanuts had already been on a steady downward trend before the turn of the year, and this has not changed in the new year. Prices have been falling slowly but steadily since mid-October and market experts see no improvement in the coming weeks. Demand from China and South East Asian countries such as Vietnam, the Philippines and Thailand has not yet picked up to the extent hoped for. At least there are some reports of Chinese peanut oil purchases in India, albeit at low prices of around USD 1,800/mt; the shipment is scheduled for th

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