Browse Data and Analysis

FAS/Managua projects marketing year 2024/25 peanut production to rebound to a record high of 230,000 metric tons on sustained high area planted and improved growing conditions following a damaging El Niño cycle in 2023/24.

FAS/Managua projects marketing year 2023/24 Nicaraguan peanut production to return to historic high levels, near 200,000 metric tons on an in-shell basis, as deteriorating political conditions and rising economic instability improve the risk-reward calculations of peanuts relative to longer-term investments in sugar or cattle.

Nigeria continues to strive for self-sufficiency in oil palm production. Currently, production remains stable. Meanwhile, demand for palm oil outweighs supply. Nigeria meets the supply gap in oil palm through imports from Malaysia, China, and Côte d’Ivoire.

FAS/Managua expects 2022 peanut and oil production to remain flat from the previous year, with the vast majority of peanuts and virtually all peanut oil exported overseas.

Nigeria’s oil palm sector contributes to economic development at all levels – national and state. Currently, the country's demand for palm oil outweighs its supply.

For Marketing Year (MY) 2020/2021, Nicaragua's peanut production reached over 194,000 metric tons (mt), which is a 21 percent increase compared to the previous cycle

Nicaragua peanut production fell 11 percent in marketing year (MY) 2019/2020 dropping to 158,000 metric tons (MT).

In June 2019, the Nigerian government formulated a new policy to invest some $500 million in expanded palm oil production.

Peanut production fell 14 percent in marketing year (MY) 2018/2019.

In MY 2017/2018, palm oil production increased 23 percent due to new-planted areas starting to bear fruit.

The major source of oil in Nicaragua is African Palm. Palm plantations have more than doubled since 2011.