Peanuts: acreage could be smaller than expected

March 7, 2022 at 12:00 PM , Der AUDITOR
Play report as audio

ATLANTA/BUENOS AIRES. Some market players may be overestimating the 2022 acreage, which is likely to be smaller than initially hoped for. US exports are currently rather sluggish, while prices on the European spot market are rising.

Deceptive security

The US peanut market continues to be quiet. Currently, there are still sufficient supplies from the 2021 crop - production was 2.9 million mt (3.2 million short tons). Buyers do not seem to be in a hurry to stock up, which, according to The Peanut Grower, could be due to a false sense of security. Many seem to expect that acreage will not decrease compared to last year, while most analysts expect a decline. They reckon that acreage could fall victim to competing products such as cotton, corn or soybeans, as these currently bring in more profit. One argument in favour of peanut cultivation, however, is that it requires little fertiliser - the cost of which has risen massively in recent weeks. In 2021, the area under peanuts was 1.59 million acres, which is 5% less than in 2020.

China cuts back on purchases

Exports are rather sluggish, according to The Peanut Grower. In the first third of the current export season, exports have fallen by 24.3% year-on-year, with the decline for inshell peanuts as high as 55.1%. This is mainly because China has cut back its purchases by 70%. Peanut butter exports, however, were up 22.2%, with neighbouring Canada and Mexico the main buyers. There are plenty of goods available on the US domestic market, with total supply around 34,000 mt (75 million lbs) above that of the 2020/21 season. Total domestic consumption is currently estimated at around 1.03 million mt (1.13 million short tons) in the current season. In December, the US government had purchased just over 2,000 mt (4.47 million lbs) of peanut products to be used in nutrition programmes.

Average crop in Argentina

The Argentine crop is reportedly still developing well and experts currently expect an average yield. Weather conditions are proving crucial; January was exceptionally hot with little rain. According to estimates, about 380,000 ha have been planted with peanuts.

Prices on the European spot market, meanwhile, have risen slightly in recent weeks. Blanched peanuts, 38/42, from Argentina currently cost EUR 1.65/kg FCA Spain.


Type, origin


Blanched, 38/42, Argentina


Blanched, 40/50, Argentina


Blanched, Split, Nicaragua


Inshell, 9/11, XA, China


FCA Spain

View more
price chart, peanuts, with skin, 40/50, Bold, India
price chart peanuts, with skin, 50/60, Java, India
price charts for nuts, dried fruit, oilseeds and many more products


View related articles

Go to the News Overview
May 22, 2024
SOFIA/KYIV. The dwindling commodity supplies are causing sunflower seed prices in Bulgaria to rise. In Ukraine, sowing is around 90% complete.
May 22, 2024
OTTAWA/MOSCOW. Canada's mustard seed crop is benefiting from favourable weather conditions. Exporters are also hoping for increased demand from the European Union.
May 22, 2024
NEW DELHI/BUENOS AIRES. India has started exporting the summer crop and international buyers can secure attractive offers here. In North and South America, the situation is partially very tense, which is mainly due to the shortage of goods.
May 21, 2024
DALIAN. Prices on the Chinese pumpkin seed market continue to fall due to a lack of demand. Meanwhile, freight rates are soaring again.