Latest South African crop estimate reports a total crop of 52.000 tons, but our local experts believe that total crop will not exceed 47.000 metric tons farmer stock kernel basis. If we take out crushing quality and demand for seed and already committed export contracts, it might leave only 12.000 to 14.000 metric tons that could become available for the formal higher quality market (mainly peanut butter industry). This quantity is by far not enough, and imports will be needed to fulfil the domestic demand that is about 100.000 metric tons….. to be continued
South Africa: Lower crop yield and quality outcome. bullish ↑BREAKING NEWS SOUTH AFRICA
