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AgFax Peanut Review: Prices Mostly Unchanged

Ernst Undesser
By Ernst Undesser, AgFax Web Editor May 3, 2013 18:02

AgFax Peanut Review: Prices Mostly Unchanged

Prices

  • USDA’s weekly peanut price highlights report shows peanut prices largely unchanged this week with runner types up half a cent.

EARLIER THIS WEEK

Prices

Trade/Markets

  • BizCommunity.com reports that the U.S. and South Africa recently sat down to discuss developing trade relations between the two countries, particularly in the areas of food commodities. The report notes that peanut sales to Africa went from nearly nonexistent a few years ago to totaling $11M in 2012, a year in which the U.S. suffered a record low peanut crop. Peanut sales to Africa are expected to improve this year with better stocks.

Production

  • USDA released their peanut stocks and processing report, indicating that current year-to-date utilization is down 3% from last year reported stocks in commercial storage nearly double last year’s.
  • Clint Thompson, information coordinator for the University of Georgia, writes for the Albany Herald that John Beasley, a UGA peanut agronomist, has spent his entire life surrounded by peanuts. Growing up in the heart of three of the country’s top peanut producing counties Beasley was surrounded by peanut farmers, which he claims as inspiration for his career in peanut research. Beasley now serves as a backup for Georgia Extension county agents. When the county agent doesn’t have an answer, they can contact Beasley and his coworkers to figure out the problem and get the answer back to the county agent and to the farmers. “Beasley’s research at UGA has focused on peanut management and competitive production systems that are economically friendly to producers,” as well as helping develop new runner cultivars to help boost yields. Thanks to research by Beasely in his peers the peanut industry has boomed over the last 7 years, “in 2006, peanuts generated a Farm Gate Value of $321,334,435. In 2011, the figure reached $586,414,003.”
  • FoodProductDesign.com reports that the National Peanut Board has updated its website to provide “online resources on peanuts and peanut products to food service, product development and manufacturing professionals.” Visitors can also connect with some of America’s 7500 peanut farmers and learn about peanut sustainability practices.

Peanut Butter

  • Michelle Russell reports at Just-Food.com that Duerr’s, a UK jam making company, has released its own brand of peanut butter, consolidating its position as the largest peanut butter producer in the UK. Its Crunchy and Smooth varieties are made with peanuts imported from the U.S. and carries the American Peanut Council registered trademark.
Ernst Undesser
By Ernst Undesser, AgFax Web Editor May 3, 2013 18:02

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