Groundnuts Market Overview in Argentina
In value terms, groundnuts production soared to $ in 2019 estimated in export prices. Overall, production recorded buoyant growth. The growth pace was the most rapid in 2013 with an increase of % y-o-y. Groundnuts production peaked in 2019 and is expected to retain growth in the immediate term.
In 2019, the average groundnuts yield in Argentina soared to tonnes per ha, growing by % against 2018. The yield figure increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The groundnuts harvested area in Argentina declined to ha in 2019, waning by -% against the previous year. Over the period under review, the total harvested area indicated resilient growth from 2007 to 2019: its figure increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, groundnuts harvested area increased by +% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of % against the previous year. As a result, the harvested area reached the peak level of ha, and then dropped in the following year.
The revenue of the groundnuts market in Argentina skyrocketed to $ in 2019, jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a resilient expansion. The growth pace was the most rapid in 2013 when the market value increased by % year-to-year. Over the period under review, the market hit record highs in 2019 and is expected to retain growth in the near future.