China refuses to pay high prices
International demand has revived trading in the last few days. Suppliers have now struck some deals, particularly in China. Trouble, however, is that the importers here are only offering USD 1,880/mt for groundnut oil, whereas Indian stockist are rather quoting USD 1,900-1,920/mt. Some companies are, nevertheless, willing to sell as they expect to gain more revenue with the depreciation of the Indian rupee against the US dollar continuing.
Demand is also up in the Gulf states, Vietnam and China for, especially bold peanuts wi