Weekly Product Updates

W34: Peanut Update

Raw Peanut
India
Market & Price Trends
Peanut Kernel
United States
Published Aug 30, 2023
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In W34 in the peanut landscape, researchers are exploring strategies to enhance crop resilience against drought stress in the United States (US), a significant challenge in rain-reliant regions. The concept of "stress memory" in plants, where repeated stress exposure improves responses, is being harnessed through techniques like "priming." It involves subjecting plants to mild stress before major stress events, promoting recovery and defense development. A case study on peanuts demonstrated that priming could potentially reduce irrigation needs while maintaining yield and enhancing stress tolerance.

In Jun-23, the US witnessed a significant decline in imported peanut oil supplies, with a sharp drop of 95.8% to 102 tons. This drop was part of an overall downward trend in imports, which had a notable spike in growth in Feb-23, increasing by 3,181% month-on-month (MoM). The value of peanut oil imports also plummeted to USD 356 thousand in Jun-23.

India emerged as the largest supplier of peanut oil to the US, accounting for about 73% of total imports by volume and USD 262 thousand by value. Refined peanut oil constituted the most significant import type, comprising 80% of total imports by volume and 77% by value. Import prices for peanut oil varied among major supplying countries, with India having the highest price (USD 3,523/ton) and Brazil having one of the lowest prices (USD 3,258/ton). China experienced the most notable price growth among suppliers, increasing by 12.4% from Jun-22 to Jun-23.

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