News & Updates

Good domestic & international demand of Indian Peanuts

by | Nov 17, 2021 | Oil Seeds, Peanuts

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Amidst good domestic and international demand for the seeds, prices have been northward since the market opened on November 8 after Diwali. Only once this month, so far, there was a price drop for Peanuts. Furthermore, it is expected that the peanut price will remain stable in the coming days.

Price

Bold 40-50

Date Price
November 15 $1,19 per kg FOB
November 10 $1,18 per kg FOB
November 3 $1,15per kg FOB

 Bold 50-60

Date Price
November 15 $1,16 per kg FOB
November 10 $1,15 per kg FOB
November 3 $1,12 per kg FOB

 Java 50-60

Date Price
November 15 $1,40 per kg FOB
November 10 $1,38 per kg FOB
November 3 $1,34 per kg FOB

Future

Future Of Groundnut Based On China’s Imports as China continues to be one of the major peanut oil players in the market globally, where it purchased over 1 million mt of kernels last year for crushing only. The last time China crossed this number was in 2017, but Beijing’s peanut oil market price also crashed that year.

So, while the stock levels are high in the oil and peanut kernel market, the overall small package sale is not faring well. With high purchases during the last season and expected carryover stock, when the country will start purchasing groundnut is unknown.

The overall Chinese peanut market still remaining bearish may act as a depressing factor for the Chinese buyers, and they will not accept higher prices for the product. Also, logistic challenges still continue to be a factor. Therefore, the peanut market in Senegal and India will have to be based on other importers and local demand.

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