Peanut consumption has grown at a rate of 2.53% and is expected to grow further by 2024. Groundnut seeds are rich sources of edible oil (43-55%) and protein (25-28%). China and India are the largest consumers and exporters of peanuts globally, accounting for more than 36% of the global consumption.
Many other countries offer ample opportunities to exporters due to changes in the consumption patterns of customers, as demand for plant-based protein is gaining popularity instead of meat-based protein. With people becoming more and more interested in healthy eating, peanuts are expected to become an important source of unsaturated fats, fibre, protein, vitamins, and minerals.
Global Consumption of Groundnuts is on a hike
Peanut butter is a key product for groundnuts in the food industry and whose consumption is currently small but has growth potential. It is estimated that the average European consumes less than one tablespoon of peanut butter annually. In comparison, North Americans are estimated to consume around 1.5 kg of peanut butter per capita.
Growth has been reported in the largest European peanut butter market, the Netherlands. In the Netherlands, peanut butter is a typical bread spread. Some of the leading producers are Calvé (Unilever) and Intersnack.
Groundnuts are gaining ground in new product launches. Europe shows a growing number of food products containing groundnuts. Snacks still dominate the market, at 45%. Chocolate and confectionery is 14% of the market and bakery 11%. However, groundnuts are also used in other new applications. The product is valued for its health aspect, supported by recent studies highlighting its benefits and new insights into peanut allergy. Additionally, the taste, protein content and texture of peanuts appeal to consumers.
Other applications with smaller market shares are these newer products, such as ready-to-serve meals containing groundnuts and groundnut milk.
Climate condition required and crop calendar
Although the groundnut plant is adaptable for wide climatic conditions, it requires 14 to 16 degrees Celsius for germination, and a long and warm growing season lengthens flowering. High temperatures result in the best performance in terms of length of the stem, number of flowers and number of pods. The maximum number of pods will be at mean temperatures of 23 degrees Celsius. Good yields are expected with a well-distributed 37 to 60 cm of rainfall during the crop period. However, summer groundnut crop can thrive with 12.5 to 17.5 cm rainfall during the fortnight after sowing and 37 to 60 cm during the growth of the crop. Although the crop can be grown in all seasons, Kharif season production accounts for about 80% of the total output. More than 90% of the groundnut area is grown under rainfed conditions. Kharif crop is grown during the June-September period in Gujarat and Maharashtra. In the southern region, it is grown as Kharif and rabi crop, and in southeastern states, it is even cultivated in rice fallows during October-March. Groundnut is also cultivated during January-May as a summer crop under assured irrigation.
Share of India’s exports & main competitors in the world
| Country | Export Market Share |
| United States of America | 32.83% |
| China | 18.85% |
| Israel | 11.61% |
| Senegal | 5.28% |
| Uzbekistan | 4.38% |
| Viet Nam | 3.42% |
| Bangladesh | 2.85% |
| Others | 17.93% |
Price
Bold 40-50
| Date | Price |
| February 23 | $1,225 per kg FOB |
| February 10 | $1,220 per kg FOB |
Source: APEDA