News

China’s Import of U.S. Peanuts Up From $22 Million in 2015 to $100 Million This Year


China is finally buying U.S. peanuts on a seriously high level and farmers and farm groups here are doing their best to make sure it stays that way.

The USDA is predicting that China will buy about $100 million worth of peanuts this year and the country is well on its way to doing exactly that. The U.S. has already sold $29 million worth of the legumes from Texas, Georgia, Alabama, North Carolina, Virginia and other states to the Chinese in just the first seven months of 2017, according to USDA data.

Compare that to the total exports worth about $4 million just a few years ago and you can see why the industry is optimistic.

A wakeup-call about the potential for the Chinese market came last year. China ramped up imports over the summer months and the sales were meteoric. China bought about $172 million worth of U.S. peanuts last year, a roughly 700 percent increase from the $22 million it imported in 2015, according to USDA data.

Source: AgriMarketing

ProAg Quick Links

Agent Toolbox Grower Toolbox Careers

ProAg News

Iowa Farmland Values Continue their Decline

Iowa farmland values have fallen by 1% since September and by 2.7% since March 2018, according to the latest survey conducted by the Iowa Chapter of the Realtors Land Institute....

Spring Acreage in Focus

The March 29 Prospective Plantings report will provide the initial indication of potential acreage allotments for spring crops and sets the tone for production potential as we move into planting season....
Get ProAg updates via email
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×