International Peanut Forum Insights: Argentinean and American Crop Situation in 2023

Valuable insights were gathered from specialists attending the International Peanut Forum (IPF) held in Lisbon, Portugal between April 26-28, 2023. These insights provide crucial information on the current state of the peanut market, particularly regarding Argentinean and American crops.

Key Points:

• The Argentinean peanut crop is experiencing a significant decline, resulting in increased prices.

• Weather conditions during the harvest period will largely determine the market's impact.

• Presently, the weather is dry and expected to remain so, but this will not improve the situation.

• Dry weather will at least avoid further yield and volume deterioration.

• The Argentinean crop is estimated to decrease by 30-35%, reducing exports by 250,000 MT, and no other country can compensate for this loss.

• American farmers have planted 10% more peanuts, but the new crop will only become available in Nov/Dec, coinciding with the first shipments.

• The American crop's success remains uncertain and depends on factors such as sunshine, rain, and harvest conditions.

• The USA has experienced three consecutive favorable crop years, making a fourth good crop year uncertain.

Given these insights, it is essential to stay up-to-date with the latest developments and make informed purchasing decisions in the peanut market.