Even with irregular rains, Brazil should remain at the top of peanut oil exports in 2024

Published 2024년 2월 21일

Tridge summary

Around 250 peanut industry professionals gathered in Itaju, Brazil, the city responsible for 90% of the country's peanut production, to discuss the 2023/24 harvest and new seed varieties. Despite being the 12th largest peanut producer, Brazil is the leading exporter of peanut oil, primarily to China. The upcoming harvest is expected to see a 15% increase in planted area and 2% increase in production, although climate conditions could impact grain quality. The article also highlights two 'high oleic' grain types, IAC OL 4 and IAC OL 5, which are susceptible to foliar diseases but have high productivity and oil content.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the beginning of this month, around 250 peanut producers, researchers, processors, investors and other professionals in the segment met in Itaju (SP) to talk about market expectations for the 2023/24 harvest and present the main news in research and development of seed varieties and lines, which should help confirm the country's leadership in the export of peanut oil. According to the United States Department of Agriculture (USDA), even though it is only the 12th peanut producer in the world in 2023, Brazil holds the first place in the export of peanut oil, with 86 thousand tons sold. For Rodrigo Chitarelli, CEO of CRAS Brasil and responsible for organizing the event in Itaju (SP), Brazilian leadership could be much looser. “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 ...

Source: NoticiasAgricolas