Senegal is famous for its peanut. The peanut has great content in oil content and it is exported to Europe, USA and China. Peanut oil from Senegal is also very good quality and it was shipped to other countries.
Since China and Senegal reached agreement on peanut import without duty, it gets hot for Chinese to buy peanut in Senegal. Last season year, it was so hot the price was sky-rocketed. This season, it is also hot with a lot of Chinese coming to buy peanut. This flood of Chinese buyers made local government oil factories empty handed without peanut to purchase due to their relying on government regulated price. Most farmers sell to the high bidder on price. That causes the issue with government and their factories. The Senegal government factories like Soneor has no peanuts to extract for oil. They are complaining to government on Chinese export which caused them no business. So there is a possibility that the government of Senegal may do something in that regards – to restrict some export to China. But it is difficult tasks. How to balance the needs from government factories and farmers/small business there that benefit from the higher price of peanuts? We have to see how the policy will change in March, 2016. Stay tuned.
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