Even with irregular rains, Brazil should remain at the top of peanut oil exports

Peanut Meal

Published Feb 27, 2024

Tridge summary

Brazil, although only the 12th largest producer of peanuts worldwide, is the leading exporter of peanut oil, with São Paulo contributing 90% of the country's output. The majority of this export (80%) is purchased by the Chinese market. The 2023/24 peanut harvest in Brazil is projected to see a 15% increase in planted area and a 2% rise in production. However, potential climate issues such as irregular rainfall and high temperatures could affect exports. Despite these potential challenges, Rodrigo Chitarelli, CEO of CRAS Brasil, is confident that climate instability will not impact annual peanut oil production.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to the United States Department of Agriculture (USDA), despite being only the 12th producer of peanuts in the world in 2023, Brazil holds the first place in the export of peanut oil, with 86 thousand tons sold. São Paulo is responsible for 90% of Brazilian peanut oil production and the municipality of Itaju, located in the central part of the state, has been consolidating itself as the national capital of peanut oil. In 2023, the city was responsible for more than 28% of product exports, reaching the top of the national ranking. For Rodrigo Chitarelli, CEO of CRAS Brasil, the Chinese market, responsible for 80% of purchases of Brazilian peanut oil, demanded even more of our product in the last cycle. In 2023, we will sell all the volume we produce. If we encourage planting, increasing the harvest and providing better quality grain, we will have a greater production of raw materials and we will be able to increase the amount of oil exported in a natural way”, commented ...

Source: Climatempo