03 September 1998
INVESTORS are piling into peanuts amid fears of a global shortage.
The international peanut market has seen prices rise by 50% since the spring.
Shortage fears have been raised by torrential rain in Argentina, floods in China and drought in the US affecting supplies. They have been exacerbated by a report from the US Department of Agriculture that US peanut production would fall 2% this year to 1.58m tonnes.
Prices topped the $1000 (£598) a tonne level more than a month ago. They now stand at $900 a tonne after beginning at $650m in early April.
- The Daily Telegraph 03/09/98 page 29, page 31 (City Comment)