While most Indian and Chinese peanut products are consumed in their respective home countries, the United States is the world’s top exporter of peanuts.
Other leading peanut exporting countries are Argentina, Sudan, Senegal and Brazil. The top 5 peanut nations export more than 70% of the world’s total.
Renowned for the National Peanut Festival since 1938, Dothan in Alabama grows about half of America’s harvested peanuts. According to the American Peanut Council, the U.S. peanut industry exports from 20% to 25% of its peanut crops.
Roasted Nuts and Peanut Butter
Peanuts are also the raw materials behind U.S. sales of roasted nuts and peanut butter. Including both domestic revenues and exports, the American roasted nut and peanut butter industry earned some US$6.3 billion in 2006. Gross profits exceeded $3.4 billion.
U.S. companies dry, salt, cook, roast or can nuts; process grains or seeds into snacks; or manufacture peanut butter.
During 2006, the U.S. exported and imported some US$480 million worth of nut products to and from 128 countries around the world.
Top Importers of U.S. Peanut Products
U.S. companies exported $339 million worth of roasted nuts and peanut butter in 2006, an increase of 12.3% from 2005.
Of the 117 countries that bought peanut products from America in 2006, the following were the leading importers.
- Canada … US$97.5 million (28.8% of total manufactured nut imports from the U.S.)
- Mexico … $44.3 million (13.1%)
- Hong Kong … $21.3 million (6.3%)
- Spain … $20.3 million (6.0%)
- Netherlands … $19.9 million (5.9%)
The above 5 countries represent 60% of total U.S. exports of roasted nuts and peanut butter.
In terms of the global trade in raw peanuts, the European Union, Canada and Japan buy nearly 80% of the world’s imported shelled peanuts.
Top Exporters of Peanut Products to the U.S.
The U.S. imported $135 million worth of peanut products from 55 countries in 2006, up 7.7% from 2005.
The top exporters of roasted nuts and peanut butter to the U.S. are listed below.
- Canada … US$29.4 million (21.7% of total manufactured nut exports to the U.S.)
- China … $22.7 million (16.8%)
- Vietnam … $15.7 million (11.6%)
- Thailand … $11 million (8.1%)
- Mexico … $10.3 million (7.6%)
The above 5 countries represent 66% of total U.S. imports of roasted nuts and peanut butter.
Two thirds of overall U.S. peanut imports are roasted, unshelled peanuts.
A Nutty U.S. Trade Surplus
In 2006, America generated a trade surplus of $204 million from peanut products. Should the U.S. dollar continue to weaken, foreign countries will be able to buy more U.S. roasted nuts and peanut butter with their strengthened currencies. Thus, a weaker U.S. greenback could stimulate higher international sales of its peanut products.
However, all bets are off should India and China decide to become major players in the international trade of processed peanut foods.
Sources for this Article
This article presents independent calculations and insights based on data drawn from source material on just-food.com & peanutsusa.com.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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