Since the beginning of this year, Argentina's extremely dry weather has resulted in only 65% of peanut kernels accounting for the overall proportion of peanuts. Currently, Argentina's peanut harvest progress has exceeded 90%. It is expected that the yield of shelled peanuts in 2022/2023 will decrease from 970,000 tons in the previous year to 630,000 tons.

But what exceeded market expectations was that the accumulation process in 2021/2022 actually supported the total export volume of Argentina from January 2023 to the present. Argentine peanut exports increased by 11% from January to May 2023, reaching a record level of 307,000 tons. Out of this, 111,000 tons were exported from April to May (shelled). In the second half of next year, Argentina may pose a threat to the global market's export reduction. However, with the United States increasing production by over 200,000 tons and China and India also increasing their production, Argentina's impact on the market is limited.