Brazilian peanut prices slipped in the last week of 2022 and the first week of 2023, reversing some of the gains of the last 6 months. Prices increased from USD 1.28/kg at the start of July 2022, to USD 1.50/kg at the end of 2022, on the back of dry conditions, brought on by the La Nina phenomenon. Brazilian peanuts were approved for export to China in September 2022, which provided support. However, in the last week of 2022 and the first week of 2023 prices pulled back, dropping 9% in two weeks to USD 1.37/kg. Globally and ample supply of peanuts and weak demand is keeping prices in check.
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