Nuts

Peanuts: oil markets influence peanut trade

March 18, 2024 at 12:29 PM , Der AUDITOR
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NEW DELHI/BRASÍLIA. In India, market players are currently keeping a close eye on the oil markets, which have a significant impact on peanut prices. Brazil is producing less EU-suitable goods this season.

Buyers are switching to cheaper alternatives

There is still some oversupply on the Indian peanut market, but prices are being supported by average demand and have risen by a moderate USD 10/mt compared to last week. It is particularly important to keep an eye on the oil markets at the moment. For example, around 800,000 mt of mustard seeds recently reached the markets and if the government does not make purchases at the minimum support price here, mustard oil prices are likely to hit a new low soon. With stocks of sunflower, soy and palm oil also depleting rapidly,

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