Weekly Product Updates

W33: Peanut Update

Raw Peanut
Peanut Kernel
Market & Price Trends
Published Aug 25, 2023

In W33 in the peanut landscape, the global peanut oil market is projected to expand from USD 10.80 billion in 2023 to USD 12.10 billion by 2028, with a compound annual growth rate (CAGR) of 2.30% during the forecast period of 2023 to 2028.

During the fiscal year 2023, India witnessed a notable surge in peanut exports, driven by robust demand from South Asian markets and capitalizing on Argentina's reduced crop. Between April and May in the current fiscal year, peanut shipments surged by 54%, reaching a value of USD 163 million (INR 1.33 million) compared to the prior year's USD 106 million (INR 813 million). The volumes also registered a substantial 46% increase, totaling 84.11 thousand metric tons (mt), as reported by APEDA. The United States Department of Agriculture's (USDA) projection anticipates India's peanut exports for the marketing year 2022/23 to attain 850 thousand mt, surpassing the previous year's 750 thousand mt. 

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