Weekly Product Updates

W29: Peanut Update

Raw Peanut
India
Supply Chain Management
Peanut Kernel
Sudan
Market & Price Trends
Published Jul 27, 2023
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In W29 in the peanut landscape, India's peanut exports reached a record high of USD 831.6 million in the fiscal year 2023,, showing a significant increase compared to the previous fiscal year’s USD 629.27 million. The demand from major South Asian countries, such as Indonesia, Vietnam, and the Philippines, contributed to this growth. The lower crop in Argentina benefited Indian exporters, allowing them to gain market share. Peanut shipments from April to May of the current fiscal year showed a remarkable growth of 54%, amounting to USD 163 million compared to USD 106 million in the same period of the previous fiscal year. The United States Department of Agriculture (USDA) predicts a further increase in India's peanut exports for the current marketing year. Indian peanut production estimates are at a record high for 2023.

On the other hand, there is a possibility of a peanut shortage in the United Kingdom. The Unite union reported that about 135 peanut workers will vote on a strike action due to dissatisfaction with their wages in the upcoming weeks. Lastly, a hunger crisis threatens Sudan's peanut production and staple crops due to a war between military factions. Farmers report delays in planting crops like peanuts and sorghum, partly due to a lack of credit from banks and high input prices. The conflict disrupts supply chains, and looting affects warehouses and agricultural inputs. Delays and challenges in accessing financing and inputs may result in farmers being unable to plant.

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