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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