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Peanuts: waiting for arrivals to pick up

September 30, 2024 at 12:33 PM , Der AUDITOR
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NEW DELHI/BUENOS AIRES. Trading dynamics may change overnight in India. Risk is that speculators will try to drive up prices in China. US shellers need to assess how much they can handle. Suppliers in Argentina are casting a nervous look on US prices.

Buyers advised to wait in India

If the weather holds up, India is on track for about 4 million mt of new peanuts this season. The crop is looking great with no major issues so far. Traders expect small arrivals around the second week of October, but the bulk will come in late October or November by which time a better sense of where prices will land should emerge.

At present the market is still gaining support from the addition of a 20% import duty on edible oils. Demand for by-products such as blanched peanuts as ingredient for peanut butter is also increas

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