01 Peanuts 

Week 48 (November 24-28, 2025): Domestic peanut prices initially declined before rebounding, with varying performance across different producing regions. While speculative sentiment played a role in the price movements, the actual supply and demand fundamentals remained weak, requiring a cautious approach in the long term.

Weekly Review:

This week, increased shipments from producing regions coupled with persistently weak demand and a wait-and-see attitude among buyers will likely lead to continued weak price adjustments for peanuts. However, the decline is supported by multiple factors: downstream inventory levels are generally low, and pent-up demand for restocking is expected to gradually materialize after a reasonable price correction; inventory costs in Northeast China are high in the later stages, and with the Spring Festival still some time away, a concentrated sell-off is unlikely (while farmers in Jilin are showing signs of reluctance to sell, small traders in Liaoning remain hesitant to sell); the peak season for peanut oil consumption is approaching, potentially increasing the operating rate of oil mills, and the entry of factories like Luhua into the market is expected to boost market confidence. It is recommended that market participants view market fluctuations rationally and not panic excessively. If inventory is ample or profits are high, they can take the opportunity to reduce inventory and avoid risks. However, given that sales in food factories and the domestic market have declined significantly compared to last year, the remaining inventory in production areas is relatively large. Intermediaries and external funds in Henan's southern region and the northeastern production area have accumulated a certain amount of inventory. In the medium to long term, it is still necessary to maintain a risk awareness and reasonably control inventory levels to cope with the risk of price reductions in the context of weak consumption.

02 Peanut Oil

In week 48 (November 24-28, 2025), the national average price of peanut oil was 15,913 yuan/ton. Reference prices are as follows:

Weekly Review:

This week, peanut oil prices fell, with slow sales mainly due to weak demand caused by the overall economic environment. The price reduction alleviated supply pressure. New peanuts are gradually entering the market, and oil mill operating rates are gradually increasing, easing supply. Currently, international edible oil prices are weak, dragging down peanut oil prices. In the short term (1-2 months), peanut oil prices may continue to decline.