Well, peanuts are important to the southeast, Georgia, Florida, and Alabama, where about 70 percent of the peanuts in America are grown, and then you add South Carolina.
Well, the export market is also important, but right now the export market is having a little slow time. They say Brazil had a much lower output, probably around 30 percent this year. Farmers are not selling unless they can get a higher price.
Plantings in the new crop of Brazil competition, they said Argentina has a much lower output this year, with a decrease of about 27 percent. They’ve had continuous rain and overcast skies during the harvest, and many of their peanuts are damaged. China is not an option, at least at this point, because of the exchange rate, they said, and very high freight rates, and the war is causing some problems with shipment.
India is facing problems with the monsoon, creating delays in planting due to extreme dryness last year, and floods this year. So the U.S. is an option for raw shell peanuts, but the market needs to be a lot higher for blanched materials. They like to order blanched peanuts when they order overseas.
That’s an update on the world competition from Brazil, Argentina, China, and India.
Audio Reporting by Tyron Spearman for Southeast AgNet.