W16 Peanut Update: Turkey Launches New Program to Boost Peanut Production, Prices Stable in China Despite Increased Peanut Oil Prices W16 Peanut Update: Turkey Launches New Program to Boost Peanut Production, Prices Stable in China Despite Increased Peanut Oil Prices

Published Apr 26, 2024

In W16 in the peanut landscape, the Şırnak Provincial Directorate of Agriculture and Forestry launched a new program to enhance local agricultural diversity and boost peanut productivity by providing certified peanut seeds and grants to local farmers. In addition, peanut trade activities were limited in China during W16 despite increased peanut oil prices. The price for imported Indian peanuts ranged between USD 1,280 and USD 1,365/mt.

Şırnak Launches New Program to Boost Agricultural Diversity and Peanut Productivity

In Silopi, Şırnak, Turkey, a new program was launched to encourage agricultural diversity and enhance peanut productivity. Referred to as 'Şırnak is rising with peanuts,' the initiative is being spearheaded by the Şırnak Provincial Directorate of Agriculture and Forestry. Under the project, 30 peanut farmers were supplied with certified peanut seeds and received a 50% grant, totaling an investment of USD 69.6 thousand. The distribution ceremony underscores the region's commitment to enhancing its agricultural industry.

China’s Peanut Prices Remain Stable Despite Increase in Peanut Oil Prices.

China’s peanut trade activities were limited during W16. The farmgate prices of peanuts in Henan province this week ranged between USD 1,423 to USD 1,464 per metric ton (mt). Meanwhile, prices in Shandong and Liaoning provinces were USD 1,340/mt and USD 1,382/mt, respectively. The market expects prices to remain stable in the near future, despite the increase in peanut oil prices from the oil manufacturer since Apr-24. In addition, the prices for imported Indian peanuts ranged between USD 1280 to 1365/mt.