We have had one of the wettest monsoon in a decade this year and the rains are still not in a mood to leave us alone. We continue to have the one off sporadic shower every now and then in different parts of the country. A lot of the rainfall this season has been in the form of cloud bursts where the quota for a week or a fortnight is covered in a span of 12 – 24 hours. There is still one weather pattern over Gujarat for this weekend showing a lot of rainfall and hopefully after this we would have clear skies.
While this rain fall has been beneficial in most parts, the rain fall expected this weekend could probably put some stress on the Javas. Farmers are aware of this weather pattern and have chosen to keep the peanuts in the ground so they do not get damaged. For the Bolds, this rain is in fact beneficial even now. We would start shipping about 10 -15 days later than what was anticipated due to the rain.
On the other hand, the Government of Gujarat has already announced a procurement of almost 800,000 tons of In-Shells from the farmers at an approximate price of USD. 725.00 per ton. The registeration process for farmers will commence from 1st October and procurement from 1st November as per current schedule. The catch here is, like last year, they will buy a maximum of 2.5 tons of In-Shells from each registered farmer irrespective of what the farmer has actually produced.
Trade to the Far East as well as other destinations has already commenced for the Bolds and Javas and it is possible that with a crop expectation of about 3.00 – 3.20 million tons in just Gujarat area we may give the African origins a run for their money this season and not just for kernels, but for oil as well.
With the domestic stocks at very low levels and the festive season, we do not expect any significant decrease in prices for October. For goods to be shipped in November – December we would be offering lower prices. We are also able to ship in October at suitable premiums.
We are pleased to indicate firm on FOB basis as under for goods to be shipped 15 Oct – 15 Nov 2019 :
Bold 35/40s : USD.1140.00 pmt
Bold 40/50s : USD.1120.00 pmt
Bold 50/60s : USD.1100.00 pmt
Bold 60/70s : USD.1080.00 pmt
Bold 70/80s : USD.1060.00 pmt
Crushing : USD.1010.00 pmt
Packed in 25/50 kgs or 1250 kgs Jumbo bags
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Java 50/60s : USD. 1230.00 pmt
Java 60/70s : USD. 1200.00 pmt
Java 70/80s : USD. 1165.00 pmt
Java 80/90s : USD. 1145.00 pmt
Packed in 25/50 kgs or 1250 kgs Jumbo bags
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Blanched 40/50s : USD.1390.00 pmt
Blanched 50/60s : USD.1365.00 pmt
Blanched Splits : USD. 1320.00 pmt
Packed in 25 kgs vacuum bags with outer pp bags.
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Peanut Oil : USD. 1425.00 pmt
Packed loose in flexi tanks.
Please revert back to us for prices to the EU as well as for ex warehouse Rotterdam prices.
We await your best inquiries for the new season and look forward to meeting you at the Anuga next month in case you are visiting or participating.