China Peanuts
At the time of writing this report, expectations were of a good 2021 Chinese peanut crop, both from a quantity and quality standpoint. Harvest in the main producing areas was expected to start by mid-October.
As per the USDA FAS Oilseeds and Products Update report of September 1, 2021, the record rainstorm in Henan province in July 2021 might have affected 120,000 hectares of peanuts and this province’s production is likely to be cut by around 100,000 MT.
As per the USDA FAS Oilseeds and Products Update report of September 1, 2021, the record rainstorm in Henan province in July 2021 might have affected 120,000 hectares of peanuts and this province’s production is likely to be cut by around 100,000 MT.
India Peanuts
According to the September 2021 USDA FAS reports, Indian peanut production is expected to reach around 6.8 million metric tons, up roughly 7% over the previous forecast and 1% more than last year. The increase in production is due to a greater planted area, which in turn, rose as a result of favorable prices. The harvested area is expected to amount to 5.9 million hectares, up 7% from August but down 2% from 2020. The yield is expected to increase by 3% from the previous year to 1.15 MT/ha.
USA Peanuts
As per the USDA October forecast, US peanut production for the 2021/22 marketing year is forecasted at 2.85 M MT, up 2% from 2020/21. According to industry sources, the US is looking towards a good crop this year, volume and quality-wise, provided weather conditions remain good until the end of harvest, which started slowly by mid-September. At that time, the crop was rated in a good to excellent condition of 77% (20% rated as fair).
Although it is anticipated that there will be sufficient peanuts to supply, it’s not expected that the market will soften. Besides the strong domestic demand, all oncosts rose compared to last year: labor, transport, packaging, fuel, etc. Cotton and corn are strong competitors of next year’s plantings.
Senegal Peanuts
As reported by the USDA FAS, in its World Agricultural Production report of September 10, Senegal peanut production is expected to reach 1.7 M MT in MY 2021/22, up 10% from the previous month estimate, but down 6% from last year’s record production of 1.8 M MT. Harvested area is expected to amount to 1.2 M ha, a drop of 25,000 ha (2%) from 2020/21.
Many production areas had to delay planting in July because of the late onset of rains. While seasonal precipitation from June through August 2021 was ordinary to above average, August rains were substantially above average, contributing to restoring production expectations. Yield is forecasted at 1.4 MT/ha, down 3% from last season’s record.
Many production areas had to delay planting in July because of the late onset of rains. While seasonal precipitation from June through August 2021 was ordinary to above average, August rains were substantially above average, contributing to restoring production expectations. Yield is forecasted at 1.4 MT/ha, down 3% from last season’s record.
Argentina Peanuts
According to the Argentine Chamber of Peanuts latest Supply and Demand Estimation report, based on a harvested area of 412,365 ha and a yield of 3.7 MT/ha, the consolidated production estimation for the 2020/21 MY (June 1-May 30) adds up to over 1.5 M MT (in-shell basis), up 11% from the previous estimate.