A recent article published by Globo Rural (read the original article here) indicates that with the peanut harvest nearing completion in São Paulo, Brazil's main producing state, responsible for about 90% of the total production, farmers who invest in the crop are disheartened.
The scarcity of rain has affected crop productivity, resulting in a reduction in the expected volume of the 2024 harvest.
The new projections for the 2023/24 harvest released by the National Supply Company (Conab) corroborate the views of the producers who shared their experiences with journalist Maria Emília Zampieri, responsible for the original article on which this text is based.
During planting, when an area 15% larger was sown, the expectation was to achieve a volume up to 6% higher than that of the 22/23 harvest (according to previous projections released by Conab).
However, although the volume may increase by up to 3.8% compared to the previous cycle (equivalent to 927 thousand tons), the prevailing sentiment is one of frustration compared to expectations.
Even with production falling short of expectations, the peanut market is expected to remain strong, with high prices, according to analyses by the Institute of Agricultural Economics of the State of São Paulo.
"Year after year, Brazil has been increasing its share in the international market for fresh peanuts, oil, and meal, and the trend is to continue gaining space, since global imports of the product are growing by about 3% per year. This is where Brazil has the opportunity to expand its presence," said Renata Martins Sampaio, a researcher at IEA, to Globo Rural.
According to Conab, in the state of São Paulo, the country's main peanut producer, with 210 thousand hectares planted, the positive scenario has even attracted farmers who invest in the crop as their primary option, rather than just an alternative to sugarcane rotation.
Data released by IEA highlights that in 2023 Brazil continued to grow in the international peanut sector. Compared to 2022, there was a 4.28% increase in exported volume and a 33.40% increase in value. 297 thousand tons of peanuts were exported, totaling US$ 443 million.
The main destinations for peanuts were concentrated in three countries: Russia (28.31%), Algeria (23.59%), and the Netherlands (9.56%).
"In addition to these three, which together represent 61% of exports, another 87 countries received Brazilian fresh peanuts and could see their volume increase in the short term. The doors are open, and the key is for Brazil to have the volume to offer," Renata evaluates.
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Sources used for writing this article:
2 https://www.conab.gov.br/info-agro/safras/serie-historica-das-safras/itemlist/category/899-amendoim
3 http://www.iea.agricultura.sp.gov.br/out/TerTexto.php?codTexto=16115
