China Peanut Crop Progress Report
China's 2020 crop peanut production is estimated at 17.77 million metric tons as per China's peanut industry. Although maturity was later and oil content is lower than usual, due to lack of sunshine and below-average temperatures during last summertime, the overall quality is reported to be fairly good.
According to the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-products (CFNA), prices for Chinese peanuts were on the high side during the marketing period prior to Chinese New Year saw Chinese, mainly owing to the good performance of the crushing industry from 2019/20 into 2020/21.
COVID-19 has actually brought better sales for peanut oil with people staying more time at home cooking home-made meals. In contrast, the pandemic seems to have impacted negatively edible consumption. Nonetheless, January 2021 saw the edible market firming up with edible distributors preparing goods for the Spring festival demand. Meanwhile, the new clusters of virus cases have alarmed the manufacturing sector to build up a safe stock out of fear of supply chain disruptions due to lockdowns, which has helped to push up the market prices, in particular for edible grades.
According to the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-products (CFNA), prices for Chinese peanuts were on the high side during the marketing period prior to Chinese New Year saw Chinese, mainly owing to the good performance of the crushing industry from 2019/20 into 2020/21.
COVID-19 has actually brought better sales for peanut oil with people staying more time at home cooking home-made meals. In contrast, the pandemic seems to have impacted negatively edible consumption. Nonetheless, January 2021 saw the edible market firming up with edible distributors preparing goods for the Spring festival demand. Meanwhile, the new clusters of virus cases have alarmed the manufacturing sector to build up a safe stock out of fear of supply chain disruptions due to lockdowns, which has helped to push up the market prices, in particular for edible grades.
India Peanut Crop Progress Report
As per the USDA FASS WAS report from January 2021, Indian peanut crop 2020/21 is estimated at 6.5 million MT, down by 3% compared to the December estimate of 6.7 million MT. Although the average yield, estimated at 1.16 MT/hectare, is down by 9% compared to 2019/20, the harvested area was up around 15% to 5.6 million ha.
USA Peanut Crop Progress Report
On January 12, 2021, the NASS USDA released the Crop Production Annual Report, where the full 2020/21 crop year is estimated at 2.78 million MT, 12% up from 2019/20, but 8% below last November estimate of 3 million MT. WASDE reduced ending stocks for US peanuts to 904,000 MT for the 2020/2021 marketing year.
National overall yield averaged 4.25 MT/ha, 7% down from the 4.59 MT/ha reached in 2019/20, while the harvested area was increased by 16% to 653,900 ha, which, in turn, reflected in the higher crop reached this season.
National overall yield averaged 4.25 MT/ha, 7% down from the 4.59 MT/ha reached in 2019/20, while the harvested area was increased by 16% to 653,900 ha, which, in turn, reflected in the higher crop reached this season.
Argentina Peanut Crop Progress Report
As per the Argentine Peanut Chamber (CAM) latest update, the sown area for the 2020/21 season is estimated at 385,592 hectares, up by 10% compared to the previous year, which presented a significant decrease with respect to prior cycles.
The Chamber also indicated that, by the beginning of 2021, planting had just finished under good conditions, but advised to be cautious regarding yielding expectations due to the forecasted drought and delay in finishing the sowing that could affect the 2021 crop outcome.
As reported in the December 2020 USDA FAS GAIN Report, following two seasons of consecutive decrease in the planted areas, growers have returned to peanuts after rotating with other crops. As of March 2020, a Government Decree (230/2020) reduced export taxes for peanuts and peanut products, increasing their profitability relative to soybean (the major oil crop sown in Argentina) and grains. Exports are projected to amount to 950,000 MT.
The Chamber also indicated that, by the beginning of 2021, planting had just finished under good conditions, but advised to be cautious regarding yielding expectations due to the forecasted drought and delay in finishing the sowing that could affect the 2021 crop outcome.
As reported in the December 2020 USDA FAS GAIN Report, following two seasons of consecutive decrease in the planted areas, growers have returned to peanuts after rotating with other crops. As of March 2020, a Government Decree (230/2020) reduced export taxes for peanuts and peanut products, increasing their profitability relative to soybean (the major oil crop sown in Argentina) and grains. Exports are projected to amount to 950,000 MT.