HS Code:
Subheading 1202.42.20 under the Harmonized System (HS) Code refers to shelled peanuts, whether or not broken, other than those used for sowing. This category includes peanuts that have been removed from their shells and are primarily used for human consumption, oil production, or animal feed. Peanuts in this category are a significant agricultural commodity in global trade, with demand driven by food processing industries and direct consumption markets.
Total Trade Volume
Approximately 2.5 million metric tons
Data from 2022
Source
International Trade Centre (ITC) Trade Map and UN Comtrade Database
700,000 metric tons
28% of global trade of total trade
Increasing
500,000 metric tons
20% of global trade of total trade
Stable
400,000 metric tons
16% of global trade of total trade
Increasing
300,000 metric tons
12% of global trade of total trade
Stable
200,000 metric tons
8% of global trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
35% (applied by certain countries with protective agricultural policies)
Lowest Rate
0% (under free trade agreements or for least developed countries)
Rising demand for peanut-based products
Increased exports to regions with growing snack food and peanut butter markets, particularly in North America and Europe
2021-2022
Shift towards sustainable farming practices
Exporters adopting eco-friendly and organic certifications to meet consumer preferences, especially in the EU, leading to premium pricing
2020-2022
Climate change affecting production
Erratic weather patterns in key producing regions like India and West Africa causing supply volatility and price fluctuations
2019-2022
The European Union introduced stricter limits on aflatoxin levels in imported peanuts to ensure food safety, impacting exporters from regions with less stringent controls.
March 2023
Increased compliance costs for exporters, potential reduction in market access for non-compliant suppliers, and a push towards better quality control systems.
As part of ongoing trade negotiations, China reduced tariffs on US peanuts, boosting export potential for American producers.
January 2023
Positive for US exporters with an expected increase in trade volume to China, while other exporters like India may face stiffer competition.
Argentina invested in new peanut processing facilities to increase value-added exports such as peanut oil and butter.
September 2022
Strengthens Argentina's position as a leading exporter, potentially shifting market share away from raw peanut exporters.