Peanut oil: an example of diversity in the Brazilian grain market
Brazil is a traditional exporter of peanuts, accounting for around 80 to 90% of grain production, playing an expressive role in the domestic and foreign market. With regard to the vegetable oil market, it is known that peanuts suffered a production regression from the 1970s, when soy, and the soy bran by-product, conquered the international market due to the high demand for alternatives that could satisfy the feed of confined animals.
Peanut oil is present in the pharmaceutical, food, veterinary and cosmetic industries. In an unrefined way, it is used as fuel, in the fine soap and lubricant industry, in the food industry, it is becoming popular among countries that consume olive oil, being used in dishes such as salads, in the confectionery and sweets industry and for protein supplementation, since the oil is rich in vitamin E.
C exterior RADE
In 2018, the peanut oil export tax grew 33% compared to the previous year, which corresponds to around 63 thousand tons and US$72 million. The main export destinations are China, with around 60%, and Italy with 39%. With in relation to the main producing municipalities, we can mention Catanduva, which in the last five years exported between 22 and 27 thousand tons a year, followed by Jaboticabal and São Paulo, which correspond to 56% of Brazilian exports of the product, according to the Agricultural Economy Institute.
The importance of the performance of an international consultancy
Forecasts for 2020 are of growth for the Brazilian vegetable oil market and peanut oil is a promising component of this sector. Prisma can help you understand this market niche, providing destination research and strategic mapping for the international insertion of national producers.
By: Raphaela Carramillo on 02/27/2020