Peanuts: Sudan competes with India
Mundus-Agri: Due to high yields and the fact that Chinese buyers do not pay import duties on Sudanese goods, Indian traders see Sudan as their biggest competitor this season. In India, peanuts from the new crop are increasingly arriving on the markets, but are still disregarded by buyers.
Sudan at an advantage
The Indian peanut market has been fluctuating between stagnation and downward movements in the last few days, but there have been no really big price drops. On the international market, Indian traders see Sudan as the biggest competitor this season; total production in the African country is expected to reach 1.3 million mt and market players reckon that China will be increasingly interested in Sudanese rather than Indian goods. The reason for this is that shipments from Sudan to China are not subject to import duties. For peanut oil, however, Chinese buyers will continue to turn to Indian suppliers. Overall demand currently leaves a lot to be desired, this applies to both the domestic and the export market. Market experts therefore do not expect prices to rise noticeably in the near future.