Not roasted and not cooked groundnuts market in Latin America and the Caribbean

Earlier Report Observations

The market volume for not roasted and not cooked groundnuts in Latin America and the Caribbean fluctuated between 2018 and 2023, starting at 1,601 thousand tons in 2018, peaking at 1,785 thousand tons in 2019, then dropping to 1,475 thousand tons in 2020. It recovered to 1,731 thousand tons in 2022 before declining again to 1,555 thousand tons in 2023. In value terms, the market showed more consistent growth, rising from 2,043 million USD in 2018 to 2,338 million USD in 2023, indicating a trend towards higher prices or more premium products.

By 2024, an increase in local peanut production in Mexico to 85 thousand tons allowed processors to reduce import dependence and lower production costs, fostering competitive consumer prices. New product launches, such as peanut butter cakes for dogs, and shifting consumer preferences towards creamy peanut butter for its smooth texture and ease of use, diversified the market segments. Additionally, regulatory actions by Profeco on quality and labeling of salted peanuts influenced consumer trust and market standards.

Trade data for 2024 shows that imports in volume terms slightly decreased to 252 thousand tons from 259 thousand tons in 2023, while import value rose to 417 million USD. Exports fell to 831 thousand tons from 935 thousand tons, with value also dropping to 1,406 million USD, reflecting changes in international trade dynamics and local production shifts.

Production not roasted and not cooked groundnuts in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of not roasted and not cooked groundnuts, 2017-2020

World map of production of not roasted and not cooked groundnuts, 2017-2020

Production of not roasted and not cooked groundnuts in Latin America and the Caribbean has increased for the second consecutive year. In 2020, the region produced 2 326 K t, marking a 2.8% improvement over the previous year. From 2017 to 2020, production grew by 16.5%, with a compound annual growth rate of 5.2%. The lowest production level was recorded in 2018 at 1 881 K t, which also saw the largest decline of 5.8%. In contrast, 2019 experienced the most significant increase at 20.3%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of not roasted and not cooked groundnuts production in Latin America and the Caribbean has risen for the second year in a row. In 2020, output was valued at 2 975 M $ US, reflecting a gradual increase of 7.7% compared to 2019. Between 2017 and 2020, production value increased by 9.1%, equating to an annualized growth rate of 2.9%. The lowest value was recorded in 2018 at 2 311 M $ US, which also saw the largest decline of 15.3%. The most substantial increase occurred in 2019 at 19.5%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports not roasted and not cooked groundnuts from Latin America and the Caribbean

Exports in kind, K t

Export volumes of not roasted and not cooked groundnuts from Latin America and the Caribbean have increased for the second consecutive year. In 2020, the region exported 1 004 K t, representing an intense surge of 57.5% compared to the previous year. From 2017 to 2020, exports grew by 138.8%, with an annualized rate of 33.7%. The lowest export volume was recorded in 2018 at 419 K t, which also experienced a slight decline of 0.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the Netherlands, Russia, and the United Kingdom were the main markets for exports in kind of not roasted and not cooked groundnuts from Latin America and the Caribbean. The Netherlands accounted for 28.1% of exports, Russia for 15.4%, and the United Kingdom for 9.3%, collectively representing 52.8% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

The value of not roasted and not cooked groundnuts exports from Latin America and the Caribbean has increased for the second year in a row. In 2020, exports totaled 1 284 M $ US, which is 65.1% higher than the previous year. Between 2017 and 2020, export value rose by 123.5%, with an annualized growth rate of 30.7%. The lowest value was recorded in 2018 at 514 M $ US, which also saw the largest decline of 10.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the Netherlands, Russia, and the United Kingdom remained the key destinations for exports in value terms. The Netherlands held a 29.6% share, Russia 14.4%, and the United Kingdom 9.4%, together accounting for 53.4% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports not roasted and not cooked groundnuts to Latin America and the Caribbean

Imports in kind, K t

Imports of not roasted and not cooked groundnuts into Latin America and the Caribbean totaled 153 K t in 2020, showing a gradual decrease of 4.1% compared to 2019. Over the period from 2017 to 2020, imports declined by 6.4%, with a compound annual growth rate of -2.2%. The lowest import volume was recorded in 2018 at 138 K t, which also experienced the largest decline of 15.3%. The most significant increase occurred in 2019 at 15.1%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States and China were the key partner countries for imports in kind of not roasted and not cooked groundnuts to Latin America and the Caribbean, jointly accounting for 59.1% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Imports of not roasted and not cooked groundnuts into Latin America and the Caribbean have declined for the second consecutive year. In 2020, import value amounted to 240 M $ US, indicating a loss of 2.7% compared to 2019. The highest import value was recorded in 2018 at 246 M $ US, which also saw the largest increase of 1.5%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the United States and China remained the primary destinations in the geographical structure of imports in value terms, with a combined share of 64.4% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020