📈 Peanuts Market Insight

The peanut market is currently experiencing a dynamic shift, primarily driven by strong local and export demand, particularly in Uttar Pradesh, India. The recent data indicates a firm market with daily arrivals of Jhansi Mahi peanuts ranging between 3,000 to 4,000 sacks, and prices hovering around USD 0.53–0.58/kg. This represents a significant recovery from the previous weeks, where prices were lower by USD 0.05–0.06/kg.

Export demand, especially for the Java-TJ variety, is poised to push prices higher if it remains robust. NAFED's involvement in the market, selling stocks from both the 2023 and 2024 seasons at competitive prices, adds another layer of complexity to the market dynamics. Additionally, the significant reduction in summer crop sowing in Mainpuri could tighten supply, potentially leading to further price increases.

Weather conditions in the key growing regions are crucial for the upcoming harvest. The forecast suggests mild weather, which should support the growth of the peanut plants. However, any unexpected changes could impact the yield and quality of the upcoming crop.

Global peanut markets are also showing interesting trends, with prices in Brazil and India reflecting the diverse market conditions. The analysis below provides a detailed overview of the current market situation, including price movements, market drivers, and a forecast for the coming days.

📊 Market Overview

🔹 Key Market Drivers

• Strong local and export demand, particularly for Java-TJ peanuts.
• Decreased sowing in Mainpuri impacts potential supply.
• NAFED's strategic stock releases influence market prices.

⛅ Weather Forecast – Key Growing Regions

Mild weather expected in Uttar Pradesh, crucial for the growth phase of peanuts. Any deviation from this forecast could critically affect market dynamics and pricing.

🔮 Price Forecast – Next 3 Days

Given the current market conditions and stable weather forecast, prices are expected to remain firm with potential increases if export demand persists.