Summary and Analysis of U.S. Peanut Exports Trends through September 2023
Total Exports Increase:
Until June 2023, U.S. peanut exports have shown a significant increase compared to the previous year, rising by 7% in volume and a notable 14% in value.
In terms of value, exports have reached $489 million, marking a 14% growth rate.
Export Markets:
- Mexico remains a key export market for U.S. peanuts, with exports increasing by 0.4% in volume to 88,134 MT and 2% in value to $129 million.
- China has emerged as a significant importing nation, securing the second position in annual U.S. peanut imports.
Exports to China have surged by 25% in volume to 74,378 MT and 37% in value to $74 million. - Canada, the third-largest destination, surged by 71,617 MT valued at $122 million. While there was a 3% volume decrease, there was a 2.5% increase in value compared to 2022.
European Market:
- Peanut exports to Europe (excluding the UK) have experienced substantial growth.
Volume increased by 34%, reaching 43,353 MT, and value surged by 57% to $71 million. - However, exports to the UK declined significantly, with volume decreasing by 37% to 6,090 MT and value dropping by 29% to $11 million.
Exports by Product Type:
- In-shell peanut exports saw a remarkable increase, with volume surging by 49% to 120,225 MT and value rising by 71% to $142 million through July.
- Blanched peanuts and processed peanuts also witnessed growth in exports.
- Blanched peanuts: Volume increased by 34% to 61,072 MT, and value grew by 46% to $84 million.
- Processed peanuts: Volume rose by 10% to 15,684 MT, and value increased by 14% to $42 million.
- Raw peanut exports, on the other hand, declined, with volume decreasing by 31% to 82,578 MT and value dropping by 27% to reach $114 million.
These trends reflect the increasing importance of China in the market and growth in the European market. Furthermore, they demonstrate differentiated trends across various peanut product types.
*For more detailed information on annual U.S. peanut exports, please visit PeanutsUSA.com.
