In W25 in the peanut landscape, it was reported that Indian peanut futures trading commenced on the National Commodity and Derivatives Exchange (NCDEX) after a gap of 13 years. The trade contracts for peanuts will be available from July to September 2023. The July contract opened at USD 83.62/100kg (INR 6.85 thousand/100kg) and reached a high of USD 86.83/100kg (INR 7.12 thousand/kg). However, the forecasted price is lower than the spot price, with crushing quality peanuts selling at USD 92.65-95.09/100kg (INR 7.6 thousand-7.8 thousand/100kg) in the spot market. In addition, sporadic rainfall in the undivided Kurnool and Anantapur districts of Andhra Pradesh, India, has prompted increased agricultural activity, particularly in peanut cultivation. Despite the delayed arrival of the southwest monsoon, farmers have begun sowing peanut seeds in anticipation of favorable conditions. The Agriculture Department has stocked peanut seeds at various distribution centers. However, the demand for peanuts has been relatively low due to the delayed monsoon onset. On the other hand, in the wholesale markets of Nigeria, peanuts stood at USD 15.91/kg (NGN 12 thousand/kg). Lastly, according to the latest United States Department of Agriculture (USDA) report, in Arkansas, United States, peanut conditions are favorable, with 91% of the crop rated as good to excellent. Peanuts are performing well compared to other crops, such as corn, cotton, soybeans, and winter wheat.
