Recent EU tariffs imposed on a variety of US goods included Peanuts. This had an immediate impact on pricing and with the supply chain already stretched, stocks held in European warehouses are reducing at a rapid rate. There is real uncertainty for European buyers regards their cover for the first half of 2021 as they decide whether they need to cover from the US with the 25% import duty, or wait until new crop South American arrives. Following the imposed tariffs on US goods, buyers flocked to Argentina to buy what ever they had left to sell, which wasn't a lot.
Good news coming from the UK last month was that from 1st January 2021 the UK would not impose these tariffs and goods could be imported at the previous zero duty rate. The US domestic market remains strong on both edible and birdfeed grades, with birdfeed pricing as high as we have seen it for many years.
India were due to record their biggest ever crop, however unexpected late rains mean that a large % of their crop has been heavily damaged, to a point whereby Aflatoxin levels are too high to export goods to the EU.