High CFR Prices for Argentinian Peanut Kernel

Argentina has seen good peanut kernel demand this past month from Western Europe and some from China. Due to the smaller peanut crop in Argentina, the high demand, and the high freight rates, the CFR prices reach USD 1.6-1.7K/ton. Supply is forecasted to keep dropping by 10-15% as some provinces face droughts, and prices are expected to keep rising.