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Our Latest Breakthrough – Peanuts Market

Our Latest Breakthrough – Peanuts Market

Peanut is an important cash crop in Sudan, providing about 5% of the gross national income. Two varieties of Peanut are grown in Sudan; one is grown in the western part of the county (Darfur & Kurdofan States) 80% of the total production while the other type grows in ALGazeria and East Sudan. Sudan ranked at fourth place in terms of peanut production, has 6.3% market share in the global exports with 95.77M MT annually.

China is the world’s leading producer of peanuts, accounting for nearly 41% of the total output, with 11.1% market share in global exports and 12.6% market share in the global import. Thus, China is the main importer of Sudan Peanuts beside Indonesia and India which takes about 18% of the total production in Sudan Peanuts.

This year the market changed dramatically affected by the Covid-19 and the heavy rains in Africa regions. Political issues in Sudan, port operations problems, currency fluctuation and the high prices of peanut may delay the export of peanut. On the other hand, Indian delay in harvesting the crop results in small size of kernels. Where as in china resulted in tight supply and increased ocean freights. On November 10, the European Community imposed a 25% import duty on US peanuts, this will make US prices less competitive comparing to other exporting regions. These pervious factors are influencing Peanuts prices and the buy-sell position internationally.

 

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