CommoditiesPeanut prices go through the roof

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)