Peanuts: threatening export ban on peanut oil
Mundus-Agri: Rumors of a possible export ban on Indian peanut oil have roiled the market and pushed up China's buying. Some traders, however, doubt whether the ban will ultimately take place.
Traders are worried
As market players had hoped, prices of Indian peanuts have risen slightly from last week. However, a rumor is doing the rounds that have traders very worried: The Indian government is reportedly planning to temporarily ban exports of peanut oil, among other products such as flour and wheat. Increased oil buying had kept traders positive until last week, and the impending export restriction is now hovering over the market like a dark cloud.