Peanuts: new challenges
February 20, 2023 at 11:18 AM ,
Der AUDITOR
Problem is
Several factors have, in fact, stimulated trading. China most importantly signed contracts for more than 250 containers of peanut oil with rates varying at USD 2,030-2,040/mt last week. Interest has surged in the country after the lunar new year not only for oil but also for peanuts. Although this is exactly what suppliers in India had hoped for, trouble now is that oil is in short supply, particularly for free fatty acid oil (2%). Challenge for oil producing facilities is that if they buy peanuts at the present rates, selling oil at attractive prices will become difficult in future transactions.
Prices set to rise
Although domestic demand is still very much subdued at the consumer end, producer demand for high quality seeds has peaked, which is supporting the market. Vietnam, in addition, bought large volumes of bold 50/60 peanuts in India in January and some local suppliers have raised their prices to USD 1,420-1,430/mt. Export prices may have remained firm in recent weeks but are presently expected to rise by 4-5% in the next two weeks if demand from China continues at the present rate.
Peanuts, with skin |
|
Type |
USD/mt |
Bold, 40-50 |
1,390 |
Bold, 50-60 |
1,350 |
Bold, 60-70 |
1,335 |
Java, 50-60 |
1,485 |
Java, 60-70 |
1,400 |
Java, 70-80 |
1,405 |
FOB India, non-EU quality |
View more
- price chart, peanuts, with skin, 40/50, Bold, India
- price chart peanuts, with skin, 50/60, Java, India
- price charts for nuts, dried fruit, oilseeds and many more products