World consumption of peanuts is increasing at a rate of around three per cent per annum. Peanuts are called groundnuts in many parts of the world, particularly Asia and Africa. They have also been called Goober nuts in southern states of the USA.
In 2004-05 world peanut production was 31 582 million tonnes, to which Australia contributed less than 0.2 per cent. China, India and the USA are the main producers, growing 15, 7.6 and 2.2 million tonnes respectively (see Table 1).
About 95 per cent of the world’s production is consumed within the country of origin, most being crushed for oil and used for cooking. Only about five per cent is traded on the world market, the majority of which are runner peanuts.
The price of peanuts on the world market has shown little movement over the past 10 years, except in those years when the USA has had a crop shortage. The USA tends to set world prices as a dominant exporter. Peanuts from China and Argentina usually trade at 5 to 20 per cent less than the US price.
Recently, world peanut prices have risen due to increaded demand for oil seeds worldwide.
Table 1. Current peanut production, imports and exports (‘000 tonnes nut-in-shell)
Products:
Peanuts are sold as:
- Kernels – raw, roasted, blanched or salted
- Kernels – manufactured into peanut butter or used in confectionery
- Peanut oil – used for home cooking, food processing and margarine
- Peanut meal – the residue after oil extraction is a high protein stock feed
- Shells – used in stock feed, potting mix and soil conditioners
Food value:
Peanuts contain 26 per cent protein, higher than eggs, dairy products and many cuts of meat and fish. This high protein level makes peanuts a nutritional snack-food, even improving the nutritional value of confectionery. Peanuts have high fibre content and have one of the lowest glycemic indexes of all foods. They are:
- cholesterol free
- very low in saturated fat
- rich in vitamin E, thiamine, niacin, folic acid, vitamin K
- a good source of vitamin B6, biotin and pantothenic acid
- a low sodium food (unsalted)
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