In their latest prospective planting estimate, the United States Department of Agriculture (USDA) has projected the 2021 US peanut planted area at 1.626 million acres, a decrease of 2% year-on-year (y-o-y). This is smaller reduction than anticipated by the industry, especially given the higher prices of cotton. If realised, the 2021 planted area would grow marginally by 1% compared to the five-year average.
For Georgia, the largest peanut producing state, the peanut planting area is forecast to fall by 30,000 acres y-o-y (-2%), to 790,000 acres. A reduction in planted area is also anticipated in Texas, with peanuts initially projected to be grown on 170,000 acres, down 11% y-o-y.
Expansion in peanut planted area is forecast for Alabama (+3% y-o-y to 190,000 acres), Florida (+3% to 180,000 acres) and North Carolina (+2% to 110,000 acres).
In 2020, the US achieved an average peanut yield of 3,796 pounds per acre, with the output totalling an estimated 6.13 billion pounds (2.78m tonnes), up 12% y-o-y.
Meanwhile, the Mintec Benchmark Prices (MBP) for medium runner peanuts FCA southeast US were last assessed on 9th April at USc 54/lb, unchanged month-on-month (m-o-m). Similarly, in the EU, the MBP for US-origin peanuts (runners, unblanched, 40/50 per ounce) has also been relatively flat m-o-m, at USD 1,420/MT on 9th April, albeit down 27% y-o-y.