Peanut is an important cash crop in the Sudan, providing about 5% of the gross national income. Two varieties of Peanut are grown in Sudan; one is grown in the western part of the county (Darfur & Kurdofan) 80% of the total production whilst the other variety grows in Gazeria and East Sudan. Sudan ranked at fourth place in terms of peanut production, has 6.3% market share in global exports with 95.77M MT annually.
China and India are the largest consumers and exporters of peanuts in the world, accounting for more than 36% of global consumption. Increasing demand for nut-based snacks, nut butter, and protein-rich foods will continue to drive high demand for peanuts. China is the world’s leading producer of peanuts, accounting for nearly 37.7% of the total output, with 11.1% market share in global exports and 12.6% market share in the global import.
Global Peanut Market Challenges
This year the market changed dramatically affected by the Covid-19 and the heavy rains in Africa regions. Political issues in Sudan, port problems, currency fluctuation and the high prices of peanut may delay the export of peanut. India delay in harvesting resulted in smaller kernel where as in china resulted in tight supply and increased ocean freights. On November 10, the European Community imposed a 25% import duty on US peanuts, this will makes US prices less competitive comparing to other exporting regions, these factors will influence the peanut prices and the buy-sell position.
References:
www.iopepc.org/misc/2019_20/Gaily.pdf
https://www.tridge.com/intelligences/peanut/CN/insights
https://www.mordorintelligence.com/industry-reports/peanuts-market
