Nuts

Peanuts: Indian traders are not optimistic

February 19, 2024 at 11:39 AM , Der AUDITOR
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NEW DELHI/BEIJING. Prices in India continue to decline and market experts do not expect this to change in the near future. The situation is also tense in China, while all eyes in Brazil are on the new crop.

Slump on the Indian peanut market

Indian peanut traders currently have little reason to be optimistic. Prices are continuing their downward trend and have already lost 14% of their value in the last three months, and the near future also looks bleak. Suppliers had hoped that the rapid rise in the palm oil price would accelerate the peanut trade, but this has not happened and, on the contrary, demand continues to fall. The oil factories are also hardly buying any more goods, as around half of them are currently not in operation due to the lack of orders.

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