The peanut market is predicted to have a mixed trend in the coming days with the arrival of new crops.
Currently, the market is moving up and, as per experts, can go up by 1 percent more in the coming days. However, when the new peanut arrives, despite the low production, the price can decrease by $0,13 to $0,26.
The price staying between stable and firm was due to limited availability of the stock against the demand.
Though the current market is strong for the commodity, traders are of the opinion that the market is likely to move southward as the crushing mills are refusing to buy peanuts at a higher price.
It has been reported that the new crop will start arriving the following Monday. This can impact the prices negatively.
According to market experts, the future of peanut prices will be determined by how it fares after the arrival of a new crop.
|April 13||$1,33 per kg FOB|
|April 7||$1,32 per kg FOB|
|April 5||$1,30 per kg FOB|
|April 1||$1,29 per kg FOB|