Nuts

Peanuts: rain at long last

October 30, 2023 at 12:09 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. Farmers may be delighted with the long-wished-for rainfalls in Argentina, but the peanut market is not out of the woods yet. Changes in China's consumption pattern are a challenge.

Economic disruption weighs on consumption in China

Prospects for China's crop are highly encouraging. Export prices and futures have declined sharply with blanched peanuts trading at USD 1,700/mt CIF Rotterdam. Demand is, however, an issue in China. Economic challenges are weighing on consumption.

Challenges also persist in India. Not only is the industry having trouble competitng with China but buying has also turned highly selective in the People's Republic as buyers prefer cheaper low-quality volumes. Quality is, by contrast, important to buyers in the EU

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