Argentina’s peanut sector cuts planted area by 24% after record 2024/25 season

Argentina’s peanut sector is undergoing a significant contraction in the 2025/26 season after two years of sustained expansion that culminated in record planted area, production, crushing and exports in 2024/25. Planted area is estimated at 406,000 hectares, 24% below the previous season’s peak, according to data from the Secretariat of Agriculture, Livestock and Fisheries processed by the Rosario Board of Trade.

The decline is mainly the result of lower international peanut prices and higher production costs, which together squeezed expected margins. Climate uncertainty linked to drought episodes during critical stages of the crop added further pressure. Yields were also affected: in May, SAGyP reported an average of 30 quintals per hectare, below the five-year average of 32 qq/ha. As a result, projected production is down 34% from the previous cycle, at 1.2 million tonnes, the steepest year-on-year decline in the past five years. From a historical perspective, however, the projected volume is only 5% below the average recorded before the record season, with levels similar to those of 2020/21.

Pressure from international prices

The international price cycle largely explains the production adjustment. After reaching a peak of US$2,056 per tonne in January 2024, international peanut prices began a sharp correction, stabilizing at around US$1,200 per tonne by the final quarter of 2025, below the historical average of the past decade. The accumulated decline from the peak to the end of 2025 was 42%, shaping Argentine producers’ planting decisions for the current season.

The global backdrop is also adding pressure. According to the USDA, world peanut production in 2024/25 rose 4.4% year on year to 52 million tonnes, lifting ending stocks. For 2025/26, despite a slight contraction in global production to 51.5 million tonnes, projected stocks remain above the recent average, suggesting that downward pressure on prices may persist in the short term. In the first quarter of 2026, prices showed slight stabilization at around US$1,250 per tonne, according to the World Bank, though still below the historical average.

Crushing and exports: record in 2025, contraction in 2026

Industrial peanut crushing reached an all-time high in 2025 across all categories — pellets, oil and expellers — driven by the record 2024/25 harvest and by the reduction to zero of export taxes on solid residues from peanut crushing under Decree 38/2025. Looking ahead to 2026, the Argentine Peanut Chamber projects a 22% decline in industrial processing, with crushing estimated at 206,000 tonnes.

On the export front, 2025 also set a record: 915,000 tonnes worth US$1.227 billion, shipped to more than 90 countries. The Netherlands was the top destination for the fifth consecutive year, followed by China and the United Kingdom. However, that performance reveals an important dynamic: export volume rose 25%, but the implicit price fell 17%, meaning total value increased by only 3%.

Between January and April 2026, Argentina’s containerized peanut exports reached 21,127 TEUs, marking a 29% year-on-year (YoY) increase. The chart below tracks the monthly volumes recorded, according to data compiled by Datamar:

Peanut Exports | Argentina | Jan 2023 – Apr 2026 | TEUs

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In the first quarter of 2026, the sector exported 248,000 tonnes, up 21% from the same period last year, supported by high stocks left from the record season. For the rest of the year, the Argentine Peanut Chamber projects a contraction in line with lower available production.

Despite the adjustment, the USDA ranks Argentina as the world’s second-largest peanut exporter, with a 23% share of global exports, behind India at 25%.

Source: dataPORTUARIA

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