USDA issues stocks and processes for peanuts each month. More details has been announced now on the month of February. Shell peanuts on a raw basis used in primary products and in-shell also was accounted in this report. Peanut usage is improving.
Total edible use for seven months is up four-tenths of one percent with major improvements in peanuts and snacks. For the seven-month period, use of raw shell peanuts remains down on candy and down slightly on peanut butter but improving. February compared to February last year on that same month showed a 4.5 percent increase and that’s good news for our peanut farmers across the country as they make plans to plant the crop.
Showing them by detail, we’re showing for the year seven months running peanut candy down in usage 2.6 percent. Snack peanuts up 7.9 percent and people are loving those peanut butter and peanut snacks and peanut butter is down 2.1 percent for that seven month period. That’s from last August through February.
Overall total down four-tenths of one percent. In-shells were down 10.6 percent. So the market is improving even though it’s been quiet. One dealer said the peanut market was on vacation.
Audio Reporting by Tyron Spearman for Southeast AgNet.