Global Peanuts Market – Overview
Peanut is an important cash crop for several countries, it’s not only a sustainable crop, but they are also a smart addition to healthy, sustainable diets and essential nutrition source in the developing countries.
China is the world’s leading producer of peanuts, accounting for nearly 41% of the total output, with 11.1% market share in global exports and 12.6% market share in the global import. Thus, China is the main importer of Sudan which ranked at fourth place in terms of peanut production, has 6.3% market share in the global exports with 95.77M MT annually, which take about 18% of the total production of Sudanese Peanuts.
This year the market changed dramatically affected by the Covid-19 and the heavy rains in Africa regions. Political issues in Sudan, port operations problems, currency fluctuation and the high prices of peanut may delay the export of peanut. On the other hand, Indian delay in harvesting the crop results in small size of kernels. Where as in china resulted in tight supply and increased ocean freights. Senegalese government fixed the minimum price to CFA 250 per KG this year vs. CFA 210 last year, an increase of 19.05%. Moreover the government also announced an export tax of CFA 30 per KG. On November 10, the European Community imposed a 25% import duty on US peanuts, this will make US prices less competitive comparing to other exporting regions. These pervious factors are influencing Peanuts prices and the buy-sell position internationally.
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