Nuts

Peanuts: India hopes for larger market share

February 23, 2022 at 4:40 PM , Der AUDITOR
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NEW DELHI/ATLANTA. A new EU regulation gives Indian producers hope for a larger market share in Europe. The USA, however, is not remaining idle either and is increasing its acreage.

Farmers switch to peanuts

The year 2021 presented different facets to peanut growers and producers. Many US growing states such as Oklahoma, Virginia and South Carolina had achieved record yields, while floods in Texas and Georgia had led to losses. Total yields therefore rose by only 4% compared to 2020. In addition, demand was lower than usual due to the pandemic, as Chelmer Foods reports. However, the peanuts were of above-average quality and the farmers were able to obtain good prices. The massive increase in fertiliser prices is proving to be an advantage for the peanut market; as the pulses require only small amounts of it, many farmers have switched from cotton or corn to growing peanuts in 2022.

Prices on the European spot market have declined in recent weeks. Blanched peanuts from Argentina, 38/42 currently cost EUR 1.43/kg FCA Spain.

Peanuts

Type, origin

EUR/kg

Blanched, 38/42, Argentina

1.43

Blanched, 40/50, Argentina

1.63

Blanched, Split, Nicaragua

1.56

Inshell, 9/11, China

2.20

FCA Spain

Indian producers are optimistic

The Indian peanut market is stable, mainly due to continued good domestic demand. For various reasons, market players there expect European buyers to increasingly look for Indian goods. On the one hand, a new regulation regarding aflatoxin and pesticide content is to be enacted, which should facilitate imports into the EU; on the other hand, the container shortage here is not as pronounced as in some African producing countries. According to experts, the Indian crop is expected to be higher than in recent years.

Peanuts, India, Non-EU quality

Type

USD/kg

Bold, 40-50

1.23

Bold, 50-60

1.20

Java, 50-60

1.43

Java, 60-70

1.36

FOB India

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price chart, peanuts, with skin, 40/50, Bold, India
price chart peanuts, with skin, 50/60, Java, India
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