
๐ฅ Peanuts Market Insight: Limited Supply and Delayed Sowing Propel Prices Amidst Government Stock Dynamics
The global peanut market is currently experiencing a unique set of challenges and opportunities as limited supply, delayed sowing, and government interventions shape market dynamics. In India, a key producer, the peanut market has shown resilience despite initial price drops following government stock sales. Prices for 50โ60 count groundnuts are currently stable at USD 1.05โ1.06/kg, while 80โ90 count varieties are slightly lower at USD 0.94/kg. The government's pause in stock sales could potentially drive prices up significantly if this suspension continues into the peak summer crop season.
๐ Market Data Overview
๐ Key Market Drivers
- Limited supply due to 50% reduction in summer sowing.
- Delayed harvest expected to tighten the market further.
- Government stock sales influencing price fluctuations.
โ Weather Forecast โ Impact on Harvest
Current forecasts indicate favorable weather in major peanut growing regions like Gujarat, which could mitigate some of the potential yield losses caused by delayed sowing. However, unexpected late-season climate swings could still pose a risk.๐ฎ Price Forecast โ Next 3 Days
Given the current market conditions and the upcoming weather outlook, prices are expected to remain stable with potential upward pressure if government sales remain paused.