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Peanuts Will Remain Stable for the Next 15-20 Days

by | Nov 21, 2022 | Oil Seeds, Peanuts

There are many problems faced regarding the quality of groundnuts in Gujarat. The primary being the decrement in size and weight of this crunchy commodity. Thus, experts opine there is no possibility of a further increase in Peanuts compared to the previous year.
China’s groundnut yield has decreased
According to the reports, China’s groundnut yield has decreased by 25 to 30% since last year, and its benefit was visible in the initial stage of groundnut harvest. But in the past 3-4 weeks, China ended imports of Indian groundnuts.
The currency of Brazil and Argentina is weak in front of the dollar. Thus groundnut seeds are cheaper there, which is also a contributing factor to a decrement in demand.
Future Scenario
In many areas of Saurashtra, groundnut is now emerging from the fields. The arrival of groundnut has been delayed in many areas due to delayed monsoon. Looking at the current situation, experts say there is no possibility of a further increase in groundnut. Similarly, there is no possibility of a massive fall in the price of groundnut in the next 15 to 20 days.
Further, China’s purchase of groundnut oil and seeds is expected to come after the Lunar New Year holidays, i.e. in January-February. Because the arrival is coming slowly due to labour problem. Groundnut oil deal was done with China, and around 50 to 60% of its delivery is completed. But due to some purchases left, its effect will be. visible in the peanut market.
The Peanuts bold 40-50 prices were Recorded at $1,30 per kg FOB.

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The post Peanuts Will Remain Stable for the Next 15-20 Days appeared first on Commodity Board Europe GmbH.