15 Feb Less supply and slightly up on demand on smaller peanut crops
Pangea Brokers updated Global Market Peanut Report.
The general conclusion for the Global Market of Peanuts is that we are going into a “Peanut world” with less supply and slightly up on demand on smaller crops.
We are happy to share with you some updated market information for the Global Market of the Peanuts.
Currently there are some rumors that the strongest countries of peanut will have less suplly; while the demand for the smaller crops will slightly go up. Another important fact will be the quality of the peanuts that would be available during the next year.
Here below we summarize the most outstanding countries and facts of each one:
- Argentina. For the current crop there isn´t much stock going around of low and good quality.
The New Crop area is planted down a 20% and for the moment rains are good. So there´s an optimism on the peanut crop.
However we are still on early February and about two months to go.
- Brazil. Some growers already started to harvest.
The production will be slightly lower than last year due to the smaller rains and bad weather conditions.
Another important fact for the new crop is the aflatoxin damage. It´s expected that it will be present a 30% more.
- USA. For the current crop most of the stocks are sold. So there will be a very small carry over
The New Crop Quality will be not so good as expected due to the weather conditions.
- They had a lower crop.
They main supply into Asia was fullfilled this year by Africa, mainly Sudan; while the blanched peanuts were bought to China.
- There is still a slow market with low prices.
So we will see after their New Year Holidays how the market evolves.
- South Africa.They will be a net importer due to the small crop.
During March we will see how the market will evolve and the temporary affected on the crop quantity and quality.
If in the meantime there is some additional information that you need, just let us know.
We are glad to be at your disposal.