Peanut and peanut oil price on the rise

As reported by Guangzhou Daily, National Bureau of Statistics has released price data on peanuts and peanuts for oil pressing. the price in early October 2020 has risen by 2% compared to late September, 2020.

According to industry insiders, affected by the weather and the reduction in farming area for 2020 season, the peanut output in various places has decreased, which directly caused the price of peanuts to rise, which in turn had an impact on peanut products.

At the same time, the epidemic has led to an increase in demand, and factories have insufficient production capacity, and the supply-demand relationship has changed dramatically; domestic peanut raw materials have short-term supply and demand tensions, while imports of peanuts, soybeans, corn and other oil raw materials are blocked, leading to rising raw material costs.