Global Peanut Market: Prices to Keep Firm with Robust Supply – IndexBox
In 2022, peanut prices are forecast to remain stable due to rising global production. This year, the world’s peanut seed output is set to reach a record 50.7M tonnes, increasing by 2.3% y/y.
LOS ANGELES, Feb. 21, 2022 (GLOBE NEWSWIRE) — Peanut prices are to remain stable thanks to boosting supply this year, a new report from IndexBox states. The average peanut seed price on the Rotterdam exchange (CIF; US Runners 40/50%, Shelled Basis) amounted to $1,525 per tonne in January 2022 and was nearly unchanged compared to January 2021.
According to IndexBox estimates based on USDA data, global groundnut production will rise by 2.3 y/y to 50.7M tonnes in 2022. World’s imports are forecast to drop slightly from approx. 4.6M tonnes in 2021 to 4.5M tonnes this year. China leads global peanut seed production, accounting for 36% of the total volume; India follows with a further 13%-share. In 2022, China’s peanut production is expected to rise by 1.2% y/y 18.2M tonnes, while India’s output is to grow by 1.5% y/y to 6.8M tonnes.
Global Peanut Imports
In 2020, approx. 461K tonnes of ground-nut (in-shell) were imported worldwide; with an increase of 82% on the previous year. In value terms, supplies surged to $415M.
China prevails in groundnut imports structure, resulting in 320K tonnes, near 69% of total volume in 2020. It was distantly followed by Italy (23K tonnes), committing a 5.1% share of total imports. The following importers – Germany (19K tonnes), Spain (13K tonnes), Viet Nam (9.4K tonnes), Thailand (8.3K tonnes), Canada (7.6K tonnes) and Indonesia (6.9K tonnes) – together made up 14% of total supplies.
In value terms, China ($182M) constitutes the largest market for imported ground-nut (in-shell) worldwide, comprising 44% of global volume. The second position in the ranking was occupied by Italy ($52M), with a 13% share of global imports. It was followed by Germany, with an 8.1% share.
China’s value of groundnut imports increased fivefold in 2020. In the other countries, the average annual rates were as follows: Italy (+7.8% y/y) and Germany (+1.4% y/y).
Top Leading Peanut Exporters Worldwide
The U.S. dominates groundnut exports, reaching 312K tonnes, which was approx. 74% of total volume in 2020. It was distantly followed by China (28K tonnes), comprising a 6.6% share of total exports. The following exporters – Israel (18K tonnes), Senegal (15K tonnes), India (12K tonnes), Viet Nam (6.9K tonnes) and Uzbekistan (6.8K tonnes) – together made up 14% of total supplies.
In value terms, the U.S. ($243M) remains the largest groundnuts supplier worldwide, comprising 67% of global exports. The second position in the ranking was occupied by China ($34M), with a 9.4% share of global value. Israel, with a 6.4% share, followed China.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Companies Mentioned in the Report
Cargill, Bunge, Louis Dreyfus Company, Archer Daniels Midland Company, Junan Good Food Co., Junan Guanheng Cereals & Oils Foodstuff Co., Linyi Chengmei Peanut Foodstuff Co., Jilin World Expo Sta Co., Shandong Shun Shida Food Co., Shandong Guanghua Agricultural Product Co., Junan Baoli Cereals & Oils Foodstuffs Co., Qingdao Sinonut International Ltd., Suzhou Joywell Taste Co., Weifang Pukee Foods Co., Atc Group India, Ps Nutbutter, Ssm Peanuts, Omkar Peanut, Nencora Health Foods, Iqbal’s Special Roasted Peanuts, N.B. Agri Export / Peanut House, Mother Nutri Foods, Sri Siddeshwara Corporation, Yilmazer Kardesler Ltd. Sti., Champion Agro World Ltd.
Sources
World – Groundnut – Market Analysis, Forecast, Size, Trends and Insights
World – Oil Crops – Market Analysis, Forecast, Size, Trends and Insights
U.S. Roasted Nuts and Peanut Butter Market. Analysis and Forecast to 2025
World – Crude Groundnut Oil – Market Analysis, Forecast, Size, Trends and Insights
CONTACT: Contact Information Mekhrona Dzhuraeva Editor [email protected]
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