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2016 Chinese peanut production increased by 20%


From:Junan Hongxin Peanut Products Co., Ltd. Release Date:2016-12-24 Statistics:383

 

     South Africa and Argentina are the main producing areas of peanuts, but the harvest is affected by bad weather, resulting in peanut supply to meet the market demand, peanut prices are rising this year. Bohemia Nut, a Dutch trader, said peanut supply problems were expected between June and October. Argentine peanut prices have risen 10 to 20 percent this year, according to traders, and peanut prices are currently around $ 1,400 per tonne. India is another large peanut exporter, also because of two consecutive years of bad weather, affecting the peanut production decreased.
     The Chinese market for peanut and peanut oil demand continues to be strong, increasing market supply pressure. According to the US Department of Agriculture, China has been a large peanut exporter in the past and is now becoming a major peanut importer. In the past 10 years, China's peanut exports fell by nearly half to 500,000 tons, but imports rose nearly 50%. London traders said that China imported from a different flower, the United States to buy more than peanut is used as cooking oil, Argentina and Brazil, the peanut is a snack. Prices for peanuts in Argentina and Brazil are up 20% to 30%.
     Argentina is the world's largest exporter of peanuts, but also to the European market, a major supplier. Traders are predicting a 20 to 40 per cent reduction in the country's peanut output this year due to excessive rainfall in Argentina, which is expected to be less than last year's 1.2 million tonnes. Peanut broker Alimenta Agri said the Argentine market was hit hard. South Africa, another producer, has been exporting high-quality peanuts for chocolate candy, but South Africa was also affected by the drought last year, peanut production fell sharply, a significant blow to South Africa's peanut exports. Traders said the situation is now, in South Africa, there is no peanut supply local market.
     Peanut buyers are expected to ease their supply later this year, when the US peanut harvest period ends. Some analysts estimate that China's peanut production is expected to increase by 20%. However, peanut traders believe that the market supply is still tight, especially for high-quality peanut demand, the rest of the year to the first quarter of 2017, short supply situation is expected to remain.

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