Peanuts are a hot commodity in the U.S.; the twelfth to be exact. According to the American Peanut Council, peanuts are the twelfth most valuable cash crop in the country. Raised in southern states with warm climates like Georgia, North and South Carolina, Texas and Florida, peanuts’ farm value exceeds $1 billion. Georgia grows nearly half— about 44 percent, according to the National Peanut Board— of the U.S.’s peanuts.
Approximately 15 percent of the U.S.’s peanut production is crushed for oil, but most is used for edible products. The majority of U.S.-grown peanuts are used for edible products like mixed nuts and candy; on average, every American eats over six pounds of peanut products in a year. Not surprisingly, peanut butter accounts for about half of the edible products. The other half is divided between snacks and candy.
Most growers plant in April or May, planting one or more of the four different kinds of peanuts grown in the U.S. Most peanuts— 80 percent— are runner peanuts; they are most often used to make peanut butter. If you’re having a snack peanut or all-natural peanut butter, it’s likely from a Virginia peanut. As the largest peanut variety, Virginia peanuts make up 15 percent of the U.S.’s peanut production. The small Spanish peanut, and the three-or-more kernel Valencia peanut of boiled peanut fame—both with red skins—round out the U.S.’s peanut varieties.
From peanuts to potatoes, the land loan specialists at AgAmerica Lending are at the forefront of the industry. As the nation’s premier land lender, we help agribusinesses to grow and thrive with our low interest rates, long amortizations, and an outstanding 10-year line of credit.