Looking at more details on the peanut stocks and processing published by USDA, they said for January, peanut butter demand creeped up just a little bit, and it’s looking a little bit better, was everything else was still down.
January 25th or January 24th compared, peanut candy was down 6.07%. Peanut snacks also down 9.97%. Peanut butter was up just a little, 0.94%, less than 1%. Other products in the market, 8.7%. And total edible overall down 2.28% for the month of January. You take the whole six-month period that we are looking at, for the last six months, peanut candy down 3.23%. Peanut snacks down 4.95%. Peanut butter down 3.8%. And other products down 7. Total edible use down overall 4%.
And also in-shells were down 8.78%. So the peanut industry’s got a job to do. The declining on the demand is happening at home and abroad. Even on exports are down about 20%.
But the domestic market needs a push. More advertising and more marketing will be in the future.
Audio Reporting by Tyron Spearman for Southeast AgNet.