Export Market Under Pressure as Farmers Await Rain and Big Harvest
U.S. peanut farmers are closely monitoring export trends this season, as they anticipate a potentially large crop—provided timely rainfall arrives across the peanut belt. While domestic production prospects are strong, international demand has shown signs of decline, raising concerns for the industry.
According to the U.S. Department of Agriculture’s Foreign Agricultural Service, peanut exports over the past 10 months have totaled 415,000 metric tons, a notable decrease from 506,000 metric tons during the same period last year. This represents an 18 percent year-over-year drop in total global peanut exports.
Mixed Performance Among Top Buyers
Mexico remains the top international buyer of U.S. peanuts. While their total purchases are slightly lower than last year, they still account for a significant share:
- Mexico: 125,000 metric tons (down 3% from 129,000 last year)
- Canada: 124,000 metric tons (up 11%)
Canada’s increased demand has been one of the few bright spots in an otherwise challenging export environment.
Steep Declines in Key Markets
Other key international markets have reduced their peanut imports significantly:
- China: down 27% – primarily buys peanuts for peanut oil production
- Netherlands: down 61%
- United Kingdom: down 32%
- Japan: down 44%
- Germany: down 37%
These substantial drops have contributed to the overall downturn in the peanut export sector, despite a generally more competitive global price point.
Outlook for the Industry
While lower prices might attract some buyers back to the market, the current 18% decline in export volume presents a serious challenge. As the U.S. peanut crop continues to develop, industry stakeholders will be keeping a close eye on both weather conditions and international demand trends.
Reporting by Tyron Spearman for Southeast AgNet.