The second edition of the World Peanut Meeting, known as World Peanut Meeting, took place in Córdoba, Argentina, from March 18 to 21, bringing together more than 350 participants from 40 countries. Our team, represented by the specialist in peanut oil, Melinda Rodrigues, was present to evaluate market trends and strengthen ties with customers and partners.
Córdoba leads the world in peanut exports and gains recognition not only for the volume exported, but also for the quality of its product, which the European market highly values.
The event was organized by the Peanut Chamber of Argentina, an entity that brings together 20 peanut processing and producing companies, as well as industries and service providers linked to the sector.
“The first edition took place in 2021, in an online format, due to the restrictions imposed by the pandemic”, explained Melinda. ”In this second edition, which was in person, I was very pleased with the networking opportunities and participation in the field day. Furthermore, the Chamber presented an innovative format, providing participants with a true immersion in Argentine culture throughout the four days of the event”, he commented.
Trends and challenges
The event provided a comprehensive analysis of global supply and demand, presenting data from the main producing and exporting countries, which indicate a satisfactory supply scenario to date. The demand for peanuts and their derivatives around the world continues at a positive pace, with special emphasis on peanut butter, also known as “peanut butter”, already widely popular in the United States and with potential for expansion in other countries, in in line with the global trend for healthier and more sustainable products.
On the other hand, in the case of peanut oil, whose main consumer market is China, there is a reduction in demand compared to previous years. “China has already imported a significant amount and, with a good local harvest, was able to meet its internal needs. Furthermore, the high prices of peanut oil on the international market, coupled with the economic crisis faced by the country, led Chinese consumers to look for more affordable alternatives, such as sunflower oil, which is also healthy and half the cost,” he explained. Melinda.
Currently, the peanut crushing industry in Brazil faces challenges arising from the decoupling of grain, oil and bran prices; That is, while the raw material is at high prices, due to the drought that hit some regions of the state of São Paulo, the prices of oil and bran fell, making margins for crushing extremely tight or even unfeasible.
