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Peanuts: Indian prices under pressure

July 15, 2024 at 4:08 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. In India, peanut prices continue to fall with the prospect of a good crop. Demand in Argentina is good, while Brazil is struggling badly. In the USA, the weather will prove decisive.

Market prices below MSP

Market players in India report that the current sowing has been finished on 1.4 million hectares. This is around 80% of the average area planted in recent years, which was 1.75 million hectares, so a similar result could be on the cards once sowing is complete. This time last year, 1.5 million hectares had been sown. In Gujarat, the most important growing state, it was initially assumed that the acreage could be reduced by around a third, but favourable rainfall has changed the intentions of growers, meaning that it is now possible that an ev

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