Local sources provide some updates regarding Argentine peanut production

Peanut plantation in Argentina has been finished, and the last crop area for the 2020/2021 season was 412 thousand hectares.

There are some important updates obtained by the local sources. To begin with, as the demand for peanuts is still slow, buyers should be checking their stocks and markets. Freight costs are high, and it is also tough to get space or bookings. The transit time of goods has doubled. The way to handle the deals is FOB, and CFR/CIF basis with freight stated will be – not only for peanuts but also for all the goods sold. It is not because the products have high prices, but because the higher freight costs increase the selling prices. If freight cost fluctuates, product prices will vary accordingly to conclude a deal.

Meanwhile, the climate will be very important. The dry and hot weather is expected, which will continue for the following weeks. However, digging and harvesting will begin from April onwards, and the new crop shipments are expected to start in June-July. It will depend on the production situation.