We now have a clear picture on the peanut crop in India as the rains are behind us, save for an occasional shower. The crop looks good for both the Bolds as well as the Javas. In terms of quantity, while it is a guesstimate yet, we feel that we may have about 3.0 – 3.2 million tons of in-shells, the same as last year for Gujarat. However, this year we have also seen some new areas plant the java type of peanuts and this will add to the total numbers. In all, the total crop should be atleast the same as last year if not more.
A big crop however by no means is an indication of depressed prices. We still have the minimum support price so beyond a certain level, the government will come in to procure cargo and keep the farmers happy even if it means trouble for us exporters.
For the afla sensitive markets, we are yet to get an assessment of the aflaton levels as the rainfall, while adequate in totality, was not with the perfect timings.
Freight and logistics continue to remain a challenge hence the Far East markets are the ones that everyone will continue to focus on.
China, unlike last year is fairly silent on demand for new crop.
Demand for groundnut oil for export is almost non existent and in any case we were fairly expensive until today. However, with the Indian government dropping import duties on various edible oils being imported by 17 – 19 %, we may soon see parity for export of groundnut oil.
Current values on FOB level for NON – EU destinations are as follows for goods to be shipped in November 2021 –
Bold 38/42 : USD. 1235.00 pmt
Bold 40/50 : USD. 1190.00 pmt
Bold 50/60 : USD. 1170.00 pmt
Bold 60/70 : USD. 1150.00 pmt
Java 50/60 : USD. 1300.00 pmt
Java 60/70 : USD. 1280.00 pmt
Java 70/80 : USD. 1260.00 pmt
Java 80/90 : USD. 1240.00 pmt
Java Type (TJ) 50/60 : USD. 1240.00 pmt
Java Type (TJ) 60/70 : USD. 1220.00 pmt
Java Type (TJ) 70/80 : USD. 1200.00 pmt
Java type (TJ) 80/90 : USD. 1180.00 pmt
Blanched Whole 40/50 : USD. 1550.00 pmt – packed in 25 kgs vacuum bags
Blanched Whole 50/60 : USD. 1525.00 pmt – packed in 25 kgs vacuum bags
Blanched Splits 50/60 : USD. 1430.00 pmt – packed in 25 kgs vacuum bags
Please revert your firm interest.