The demand for groundnut for crushing in China is good. Chinese crushers are getting a sufficient quantity of cheap groundnuts from America, Sudan, and Senegal. Peanuts moving in China will expire in April; till that time, the price of groundnut in China will be slightly higher. After that, the cost of groundnut will start decreasing because there is a massive stock of groundnut available in China. The selling was minimal to date due to the huge bullish sentiments by the stockists, but now after the expiry of April futures, there is a possibility of an increase in selling. China is buying crushing quality at CIF 1000 to 1100 dollars per ton.
The price of Sudan’s groundnut has increased from $950 per tonne to $1150, due to logistic problems in Sudan. At present, groundnut selling is decreasing due to the decline of Sudanese currency against the dollar.
The new peanut crop is expected to be huge in Argentina. Argentina exports 40 thousand tons of groundnut seeds every year to Russia. Argentina cannot ship groundnut to Russia due to the ongoing war between Russia and Ukraine. Argentina has a large stock of groundnut to remain unsold in the current year.
The demand for groundnut is continuously decreasing in the world market, and the supply is increasing in all the countries. Also, the requirement of Ramadan has been fulfilled, the new demand is not likely to emerge shortly. Due to this, the groundnut price is expected to decrease in the coming days.
Price Trend
Bold 40-50
| Date | Price |
| March 24 | $1,28 per kg FOB |
| March 21 | $1,27 per kg FOB |
| March 15 | $1,25 per kg FOB |
| March 3 | $1,24 per kg FOB |
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