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Peanuts: market receives support

June 24, 2024 at 4:50 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. Upward trending edible oil markets and increased demand from the Middle East are keeping Indian peanut prices from declining too much. The situation in America is mixed.

Iran and Iraq increase buying in India

A number of factors on the Indian peanut market are supporting prices, which have fallen by USD 10/mt compared to last week, although the decline could have been much more drastic due to the high arrivals. Firstly, there are reports that demand from the Middle East, especially from Iran and Iraq, has increased; the Bold variety is particularly in demand here, with Indian exporters reportedly selling almost 1,000 mt to these countries. In addition, the edible oil market has seen an increase in value of around 15% in the past two

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