Global Peanut Market
Rabi crop sowing has begun in north Gujarat, reaching 11.05% completion
Peanut Innovation
Peanut shells can be ingeniously transformed into biodegradable
Sustainability
In contemporary agriculture, the integration of innovative methods
Good Agri Practices
Freshly harvested groundnuts should be cleaned and sorted to remove
Market wizard
Are you, as a processor, or manufacturer involved in peanut ingredients or snack foods, concerned about the origins of the peanut supply? ethical production? free from child labour? and doesn't compromise the health, safety, or livelihoods of farmers? Do you know if there were mono-cropping, pesticide or deforestation issues? Or if the processing meets specific food safety standards? If your answer to these questions is a big "YES," can you score each parameter? Sourcing peanuts sustainably isn't merely about doing compliance checks; it involves measuring real impact & creating real value.
In this edition of Peanut Post, we delve into our insights & experiences, highlighted by the recent release of our first peanut-centric sustainability report and the latest addition of a sustainability page in our corporate site. https://www.agrocrops.com/en/sustainability
Investing in sustainability isn't just a business strategy; it's a means to engage various stakeholders effectively. It requires a long-term perspective, grounded in values, vision, and courage to pioneer. However, this strategic approach is crucial as the industry is projected to grow into a $65 billion market by 2050. The bulk of the effort needs to come from mid-stream players, particularly processors, who play a pivotal role in adding value to the entire peanut industry. There are ample incentives to pursue initiatives like Global GAP, Fair Trade, B Corp, and more. As the proverb goes, "The journey of a thousand miles begins with a single step."
The Role of Peanuts in Improving Sleep Quality
Peanuts can potentially aid in managing insomnia due to their rich content of nutrients that support sleep-promoting processes. Peanuts are a good source of amino acids that help regulate sleep-wake cycles. Additionally, peanuts contain magnesium, which can help relax muscles and promote a sense of calmness conducive to sleep. Consuming peanuts as part of a balanced diet may contribute to improved sleep quality and duration for individuals struggling with insomnia.
Global Peanut Market
Rabi crop sowing has begun in north Gujarat, reaching 11.05% completion till end of February, with the rest anticipated to start by mid-March. Kharif crop stock levels remain steady, with high oil prices, and minimum market activity seen in February, and reluctance to lower prices shows a loss projection. Both farmers and stockists are withholding stocks, causing factory closures due to market disparities. Export and domestic demand is sluggish in oil and nuts, especilly from Vietnam and China.
RAJASTHAN:Stagnant stock levels, poor quality, and market disparities have led to an 80% factory shutdown. Summer sowing faces challenges with no support from the oil market. Financial setbacks for farmers limit crop rotation options, and the cotton alternative is also experiencing a downturn. Uncertainty prevails in oil support until upcoming elections in April 2024. The weather causing cocoons in stocksadds pressure, potentially causing further market decline.
SOUTHERN REGION:Currently in he peak season for Ap/Telangana, but domestic demand is slowing down leading to market corrections. Karnataka seeing good arrivals catering to local demand. Tamil Nadu's summer crop began slowly, initially supplies for local use due to high moisture. Market correction is expected with increased arrivals. Orissa reported satisfactory crops available in 15 days.
The USDA national tonnage report, as of now, indicates 2,969,627 fst inspected, with 28,664 fst of seg 2/3’s. A significant tightening in supply is observed due to robust export growth. If this export pace persists, the carryover by July 2024 could be approximately 850,000 fst, the lowest since 2019. As a result, the market, especially for short-term (February through April), has strengthened, with a particularly tight blanched market. Current nominal prices are 68 cents for splits, 69/70 for mediums, and jumbos at 70 to 73 cents, with short-term and quality commanding premiums. Anticipating a firm market through at least October, the strength is expected to correlate with export performance. Attention is on the Argentine new crop, as any issues could further strengthen and prolong market impacts. .
The current market dynamics for Crop 23 reveal a scarcity of supply, maintaining high prices (2150-2200 USD/tn for 38/42 blanched) due to sustained demand for the March/May period. Anticipated carryover for Crop 23 is minimal. Despite a two-week spell of extreme temperatures in specific areas, Crop 24 presents a positive outlook with expectations of good productivity per hectare, contingent on favourable conditions leading up to harvest. Prices for Crop 24 are currently at 1900 USD/tn (38/42 blanched) and 1750 USD/tn (38/42 raw CFR Rotterdam), subject to weather-dependent movements. Early transactions for the new crop (May/June to April 25) are underway, although challenges exist as some plants are already sold out for May to July, influencing market dynamics.
The 2024 peanut crop in Brazil faces challenges with a less-than-expected initial harvest due to low rainfall, resulting in high aflatoxin levels suitable only for oil extraction. Growers have not lowered raw material prices, causing concern for shellers. Russia, a major importer, is hesitant to pay current prices, prompting a potential need for compromise. Shellers find better pricing opportunities with the EU, especially during Argentina's supply shortage. However, the peanut oil market remains unattractive due to low prices. The success of the main harvest, with improved weather conditions, will determine the overall impact on export quality, emphasizing the need for strategic market adjustments and negotiations.
The CNY holidays had a notable impact on the market, providing a welcomed respite. Following the holidays, the market has settled into a steady sideways pattern. However, the seasonal demand for blanched peanuts has waned. Currently, there is interest in purchasing oil at $1700, with peanuts from Africa for crushing priced at $1000, and mixed nuts ranging between $1050-$1100. Purchasing power is at the lowest, with no immediate signs of recovery. This trend holds true for other agricultural commodities as well.
Sudan
Sudan continues to face hurdles in exports due to red sea issues. For current shipments, prices are approximately $1140 CFR Qingdao.
Senegal
Mid-season prices appear to fluctuate. The cost of oil-crushing grades ranges from $883 to $990 per ton based on splits percentage. Additionally, the 73 variety stock, especially the HPS stocks, starts at a higher price of $1040 per ton. Moreover, the price for crude oil begins at $1900 per ton.
Editor’s Pick
Brazil Set To Lead Peanut Oil Exports In 2024
In February 2024, industry leaders convened in Itaju, São Paulo, to strategize Brazil's position in the global peanut oil market. Ranking 12th in peanut farming globally in 2023, Brazil led in peanut oil exports, with 86,000 tons traded, primarily to China. CRAS Brazil's CEO, Rodrigo Chitarelli, expanded production to meet growing demand, foreseeing potential in planting more peanuts and improving quality. Despite climate risks, the 2023–24 growing season saw a 15% increase in planted area and a 2% production boost. The Itaju meeting emphasized seed variety's importance, with the Agronomic Institute of Campinas and Embrapa introducing new types to enhance efficiency. This commitment to quality, innovation, and climate adaptation solidifies Brazil's dominant role in peanut oil exports, bolstering its economy and global agricultural standing.
Mr. Siontchien Yeo
Colline Group
Say about you
I handel the majority of operations within the Colline Group's agro product division.
What sets the peanut industry apart from other nuts, and what transformations do you anticipate in peanut products in the next 30 years?
The peanut industry stands out for its straightforward processing. Peanuts are versatile, eaten in many ways, from seeds to processed goods.Expecting a 40% increase in peanut-based products over the next 30 years, the industry's adaptability and widespread use contribute to its unique position among nuts.
Cultivar Highlights
'Arnie’ New Peanut Variety Released by the University of Florida
On January 26, 2024, the University of Florida-IFAS introduced a new peanut variety called ‘Arnie.’ Developed at the North Florida Research and Education Center near Marianna, Florida, from a cross made in 2014, ‘Arnie’ pays tribute to Arnold “Arnie” Forrester, a respected farmer in Jackson County until his untimely passing on January 1, 2022. ‘Arnie’ boasts high yield potential, a superior Total Sound Mature Kernels (TSMK) grade, and
remarkable tolerance to tomato spotted wilt virus
With normal oleic oil chemistry, it caters to the preferences of major peanut butter producers in the USA, who favor this trait. Over five years and three locations in Florida, ‘Arnie’ consistently outperformed the dominant cultivar, Georgia-06G, in pod yield and TSMK grade.Notably, ‘Arnie’ exhibits resistance to tomato spotted wilt virus, rivalling the tolerance of Georgia-12Y, a current leading cultivar. With a medium maturity period of approximately 140 days under irrigation in Florida, ‘Arnie’ produces runner seeds of about 700 SMK per pound, with approximately 38% medium seeds per in-shell basis. Moreover, around 15% of its pods contain three seeds. Though seed supply will be limited in 2024, ‘Arnie’ promises to be a standout variety, embodying the spirit of its namesake.
Source link: https://www.morningagclips.com/arnie-new-peanut-variety-released-by-the-university-of-florida/
Peanut Innovation
Transforming Peanut Shells into Sustainable Seedling Pots
Peanut shells can be ingeniously transformed into biodegradable seedling pots through a process that leverages their natural composition and biodegradability. Scientifically, this involves grinding the peanut shells into a fine powder, which then serves as the primary raw material. This powder is mixed with a natural binder, such as starch, to enhance cohesion and structural integrity. The peanut shell mixture is then molded into pot shapes using a press mold, which compresses the material under high pressure to form the pots. This process does not require the addition of synthetic chemicals, making it environmentally friendly. The high lignin content in peanut shells, which acts as a natural polymer, contributes to the durability of the pots, ensuring they maintain their form while being porous enough to allow root growth and air circulation.Once planted and as the seedlings grow, the biodegradable nature of the peanut shells allows the pots to break down naturally in the soil, eliminating the need for transplanting and reducing root disturbance. This decomposition process enriches the soil with organic matter, enhancing soil health and supporting sustainable agriculture practices.
Current Crops
Peanut Sustainability
Optimizing Groundnut Cultivation - A Synergistic Approach with Furrow Irrigation and Paired-Row Planting Methods
In contemporary agriculture, the integration of innovative methods is crucial for enhancing the sustainability and productivity of groundnut cultivation. Among these methods, furrow irrigation and paired-row planting stand out as synergistic practices that collectively contribute to the robust growth and long-term resilience of groundnut crops.
Paired-Row Planting - Maximizing Light Interception and Water Use Efficiency
Paired-row planting involves placing two or more rows of groundnut crops in close proximity, elevating plant density and optimizing light interception for enhanced photosynthesis and biomass production. The resulting microclimate minimizes wind speed and evapotranspiration, enhancing water use efficiency. Additionally, shaded soil reduces evaporation and weed competition, facilitating moisture conservation.
Furrow Irrigation - Precision Water Delivery for Enhanced Crop Performance
Furrow irrigation delivers water directly to the root zone, minimizing water loss through evaporation and ensuring optimal soil moisture levels for healthy groundnut growth. This targeted approach supports crucial growth stages, such as flowering and pod development. Furrow irrigation also facilitates nutrient uptake by allowing nutrients to move with the water along the furrows, enhancing overall plant productivity.
....Furrow irrigation also facilitates nutrient uptake by allowing nutrients to....
The Synergistic Impact - Amplifying Benefits for Sustainable Agriculture
When paired-row planting is harmoniously combined with furrow irrigation,
the collective benefits significantly amplify. The heightened plant density, coupled with the precise water delivery mechanism of furrow irrigation, optimizes sunlight capture, water utilization, and leads to increased pod yields. This synergy maximizes resource utilization, conserves water, minimizes environ mental impact, improves economic returns, and fortifies climate resilience.
Contributing to Long-Term
Sustainability and Resilience
The adoption of paired-row planting and furrow irrigation in groundnut cultivation promotes sustainable agriculture, contributing to long-term sustain ability and resilience by optimizing resource use, reducing environmental impact, and enhancing overall efficiency. This integrated approach aligns with contemporary agricultural goals, ensuring enduring success in groundnut cultivation against evolving challenges.
Good Agricultural Practices
Cleaning and selection, drying practices and shelling practices in Groundnut
Freshly harvested groundnuts should be cleaned and sorted to remove damaged nuts and other foreign matter. It is important to shake the plant after lifting/harvesting to remove soil from pods and avoid forming optimum conditions for aflatoxin development. Damage to pods at the time of harvest should be avoided as much as possible since this can lead to rapid invasion of the pods by A. flavus/A. parasiticus that produce aflatoxins which are poisonous. Every effort should be made to minimize physical damage at all stages of harvesting and transportation procedures. Individual plants that die from attack by pests and diseases such as wilts, pod rots, rosette should be harvested separately as their pods will likely be contaminated with aflatoxin. Do not dry produce in contact with soil. Use clean sheets, for example, polythene sheets, or tarpaulin or mats made of papyrus, cemented grounds or raised structures. Dry groundnuts as soon as possible (in developed countries, drying is within 48 hours). Sun dry grain to bring down its moisture below 13%. Do not dry diseased/infected produce along with health ones. Separate out immature pods as well as those infested with pests and diseases. Do not shell by beating or trampling on groundnut in shells. Manual or motorised shelling is recommended but the shellers should not damage the pods. Use hand or motorised shellers specifically designed for groundnuts. Do not sprinkle water on dry pods while using mechanical shellers. Instead, adjust the space between the blades and the sieve according to pod size to reduce breakage. Remove shriveled, discoloured, mouldy and damaged grains from the lot including groundnuts with damaged testa and dispose them. Removing of dust, and foreign material which can provide a source of contamination.