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Peanuts: record-breaking yields

February 7, 2022 3:05 PM, Der AUDITOR
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ATLANTA. Even though acreage was lower in 2021 than in the previous year, a larger peanut crop was achieved in the USA. This was mainly due to record-breaking yields in the states of Oklahoma, Virginia and South Carolina.

Very good quality

Looking back, US peanut growers describe 2021 as a good year. The Peanut Grower states that the quality of the crop was above average compared to previous years and that farmers were also able to achieve high prices with their goods. Although demand has declined slightly since the start of the pandemic, it has not done so at a worrying rate.

According to current estimates, production in 2021 was about 2.9 million mt (3.2 million short tons), about 4% higher than the previous year. According to The Peanut Grower, this is due to the higher average yield, as last year's acreage of 1.55 million acres was about 4% smaller than in 2020. Market players even report record-breaking yields in the states of Oklahoma, Virginia and South Carolina. Nevertheless, producers also faced problems, with flooding in Georgia and Texas resulting in crop losses. Pandemic-related restrictions also caused repeated delays.

Frugal peanut plants

The year 2022 already holds new challenges in store. For example, the cost of fertiliser has tripled, but this could have a positive impact on peanut cultivation. Since peanut plants require little fertiliser apart from calcium, it is possible that some farmers will switch from products such as corn and cotton to peanuts, according to The Peanut Grower. However, all growers face the same high fuel prices.

Prices remain stable

On the European spot market, peanut prices have been stable for several weeks and are unchanged at EUR 1.60/kg FCA Spain for blanched peanuts from Argentina and Brazil. However, European traders report that there are almost no goods available, especially peanuts from the USA and China are sold out. Instead, traders are trying to offer Argentinean goods as a substitute.

Peanuts, Europe

Sorte, Ursprung

EUR/kg

Runner, blanched, 38/42, Argentina/Brazil

1.60

Blanched, 40/50, Argentina

1.65

Blanched, Split, Nicaragua

1.60

Inshell, 9/11, XA, China

2.10

FCA Spain

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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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