Chinese peanut prices trending lower on weak demand and high shipping costs

Throughout most of 2021, Chinese peanut prices were comparatively high. China relies on imports, even with its on large local production, to meet its high domestic demand. The domestic harvest drew to a close at the end of November, and demand from crushers decreased as they bought enough stock during the peak harvest. Peanut prices started to decline near the end of 2021, and wholesale prices in some markets have dropped by as much as 20% over the last 3 months.