At the beginning of this month, approximately 250 peanut producers, researchers, processors, investors, and other professionals gathered in Itaju (SP) to discuss market expectations for the 2023/24 harvest. They also presented key developments in seed varieties and research, aiming to solidify Brazil's position as the top exporter of peanut oil.
According to the United States Department of Agriculture (USDA), despite ranking 12th in global peanut production in 2023, Brazil leads in peanut oil exports, having sold 86 thousand tons.
Rodrigo Chitarelli, CEO of CRAS Brasil and the event organizer, emphasized that Brazil's leadership could strengthen further. The Chinese market, responsible for 80% of Brazilian peanut oil purchases, exhibited increased demand in the last cycle. Chitarelli believes that by encouraging more planting, enhancing harvests, and ensuring better grain quality, Brazil can naturally increase its oil exports.
He also mentioned doubling the factory's capacity in the past year to 400 tons per day, reflecting his anticipation of market development opportunities.
Data from CONAB indicates positive projections for the 2023/24 peanut harvest in Brazil, with a 15% increase in planted area and a 2% rise in production, attributed mainly to climate conditions.
A speaker at the Itaju event, Renata Martins Sampaio, a scientific researcher at IEA, highlighted the impact of irregular rainfall and high temperatures on productivity. This could affect peanut kernel and oil exports, which saw increased prices in 2023, creating opportunities in the foreign market.
Chitarelli assured that despite climate challenges, São Paulo's peanut oil production won't be significantly impacted throughout the year. He noted that abundant rains in February would help meet initial estimates despite water stress during the 23/24 harvest.
São Paulo, contributing 90% to Brazilian peanut production, has Itaju emerging as the national capital of peanut oil. In 2023, the city accounted for over 28% of product exports, claiming the top spot nationally.
The 2023/24 Harvest Peanut Producers Field Day occurred in the sustainable peanut research and development field at CRAS Brasil. It was in collaboration with the Brazilian Agricultural Research Corporation (EMBRAPA) and the Agronomic Institute (IAC) of Campinas, showcasing numerous peanut varieties and seed lines.
IAC, representing 80% of Brazil's planted cultivars, presented 16 peanut cultivars during the event, aiming to support technically advanced producers for both confectionery and export industries.
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