1.Stir ingredients in large saucepan over high heat, without boiling, until sugar dissolves; bring to the boil. Reduce heat; simmer, uncovered, stirring occasionally, about 1¼ hours or until chutney is thick. Discard cinnamon stick.
2.Spoon hot chutney into hot sterilised jars; seal immediately. Label and date jars when cold.
Depending on the ripeness of the peaches, peel them using a vegetable peeler or, blanch them by cutting a small cross in the base of each peach; cover with boiling water in a heatproof bowl. Stand 5 minutes, then transfer peaches to a bowl of iced water. Using fingers or a small knife, carefully remove the skin.