Nuts

Peanuts: possible price hikes for peanut oil

October 23, 2023 at 2:52 PM , Der AUDITOR
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NEW DELHI. The Indian peanut market has seen price declines to which growers are reacting in different ways. Large purchases from Indonesia have so far failed to materialise, but other countries are showing increased buying interest.

Government has started buying

After last week's slight growth, prices for Indian peanuts now seem to have reached a new low. As a result, in northern Gujarat some farmers have released their stocks for sale as soon as possible, while growers in the Saurashtra region prefer to store their produce. Gujarat's production is estimated at 2.8 to 3 million mt and up to 600,000 bags reach major trading centres daily. On Saturday (21 October), the government started buying peanuts at the minimum support price.

China buys large quantities of peanut oil

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