Total U.S. exports for the calendar year 2021 fell 26% by volume and 10% by value to reach 499,685 metric tons valued at $684 million.

Year to date final exports: Strong growth propels Mexico past China and Canada to become top destination for U.S. peanuts.

Total U.S. exports for the calendar year 2021 fell 26% by volume and 10% by value to reach 499,685 metric tons valued at $684 million. A steep drop in demand from China was the main factor behind this decline. After helping to fuel a record-setting year for U.S. exports in 2020, shipments there decreased 62% by volume and 58% by value to reach 127, 919 MT valued at $106 million. After accounting for nearly half of U.S. total exports the previous year, China’s market share fell to 26% in 2021, highlighting the inconsistency of the market.

Mexico emerged as the top export destination for U.S. peanuts in 2021 with total shipments reaching a record-high 139,011 valued at $189 million. Strong demand for raw peanuts and a surge in demand for peanut butter resulted in a 23% increase in exports by volume and a 37% rise in exports by value as compared to the previous year. Canada narrowly retained the title as the top export market by value in 2021 but was the industry’s second largest destination by volume. Exports to Canada declined 4% by volume and 0.5% by value to reach 122,913 MT and $193 million.

Exports to Europe excluding the UK increased 7% by volume to 46,492 MT and 12% by value to $65 million. At the same time, shipments to the UK doubled by volume, reaching 17,062 MT, and rose 80% by value to reach $24 million. Exports to Japan also experienced notable growth, increasing 26% by volume and 27% by value to 16,544 MT and $32 million. For shipments to the rest of the world, volume and value declined at 5% and 6% respectively, totaling 29,744 MT valued at $76 million.

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Exports by product type: Shipments of raw kernels and inshells decline, peanut butter and blanched peanuts rise.

Exports of raw peanut kernels in 2021 fell 7% by volume to 271,361 MT but rose 0.2% by value to reach $327 million. In-shell peanut exports decreased 54% by volume to 141,364 MT and 44% by value to $131 million. Peanut butter shipments grew 8% by volume to 42,317 MT and 14% by value to $134 million. Exports of processed peanuts declined 2% by volume and 12% by value to 18,388 MT and nearly $50 million. Finally, shipments of blanched peanuts increased 6% by volume to 16,031 MT and 23% by value to $29 million.

 

For more information on year-to-date U.S. peanut exports, visit PeanutsUSA.com.

Source: APC analysis of U.S. Census Bureau data