Indian Peanut Prices Continue on a Downward Trend on Harvest Pressure

Indian peanut prices slumped to only USD 0.59/kg midway through November as harvest pressure and a large crop loom. India's peanut production is forecast to reach 6.65 million mt. Even though it is lower than the two preceding years, it is still considered a large crop. Prices in India, which is the world's second-largest peanut exporter, decreased 4% MoM on weak global demand, and supply pressure as the crop is being harvested.