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Argentina Becomes
World's Largest Peanut Exporter
With a record-large 750,000 ton crop currently
being harvested, Argentina ranks sixth among peanut producers but
will surpass China and the U.S. to become the world's largest
peanut exporter in 1997/98. Following a poor crop in 1996/97
impacted by severe drought, producers increased area by 50
percent in 1997/98. The larger area combined with good rains and
growing conditions will raise production by 150 percent from last
year. With China's production and exports down 1.3 million tons
and 66 percent from last year respectively, Argentina should have
little trouble moving the additional peanuts into export
channels. Argentine exports are projected at 530,000 tons, more
than three times higher than exports in 1996/97. India will also
increase peanut exports in 1997/98 taking advantage of reduced
exports from China to nearby Asian markets. U.S. exports,
constrained by a slight decline in production and increased
competition from Argentina and India, will increase only slightly
in 1997/98 to 318,000 tons.
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