W14 Peanut Update: USDA Participates in Trade Mission to South Korea, Prices Soar in Myanmar, and Peanut Recalls In New Zealand

Published 2024년 4월 11일

In W14 in the peanut landscape, the American Peanut Council participated in a USDA agribusiness trade mission to South Korea to meet with potential importers and processors and promote U.S. peanuts. In addition, peanut prices in Myanmar have increased due to the high export demand to China and Thailand. Local peanut processing factories operate at maximum capacity to fulfill the requirements. Furthermore, a batch of imported peanuts were recalled in New Zealand due to high levels of aflatoxins. New Zealand Food Safety supports the recall, all affected products have been removed from stores and no associated illness were reported. Lastly, the 25th Annual Southern Peanut Growers Conference will be held in Georgia, US, from July 17 to 19, 2024.

American Peanut Council Participates in USDA Agribusiness Trade Mission to South Korea

The American Peanut Council participated in the United States Department of Agriculture’s (USDA) Agribusiness Trade Mission to South Korea, which took place from March 26 to March 30, 2024. Led by the USDA's Foreign Agricultural Affairs (FAA), this mission provided a valuable platform for the council to explore the market dynamics of the Korean market and engage with potential importers and processors while promoting US peanuts. South Korea holds significant importance as a market for US peanut exports, with total shipments reaching 4.52 thousand metric tons (mt) valued at USD 15.9 million in 2023.

Peanuts enjoy widespread popularity in Korean consumption patterns, especially as snacks, and this inclination continues to grow steadily. The market has witnessed the introduction of a diverse array of peanut products featuring various seasoning options, such as honey and coffee-coated peanuts, further driving the demand for peanuts.

Peanut Prices in Myanmar Soar as Export Demand Increases to China and Thailand

Peanut prices in Myanmar increased due to the soaring export demand to China and Thailand. In response, the local peanut processing factories operate at maximum capacity to fulfill the requirements of both domestic and international markets. The local peanut stock is low due to the high demand.

Prolife Foods Recalls Peanuts Due to High Aflatoxin Levels

Prolife Foods recalled specific batches of Value Pack and Refill Pack peanuts containing high levels of aflatoxins, which exceed the allowable level in New Zealand. These products were imported and released without proper testing to confirm their safety. New Zealand Food Safety supports the recall, and the affected products have already been removed from stores. There have been no reports of associated illness.

25th Annual Southern Peanut Growers Conference in Georgia, US

The 25th Annual Southern Peanut Growers Conference will be held in Georgia, US, from July 17 to 19, 2024. This three-day event will provide opportunities for farmers to learn about peanut production, legislative issues, marketing, and promotions.