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China's peanut export up 9% in H1, value down

(Xinhua)
Updated: 2009-07-29 15:57

China's exports of peanuts rose 9 percent year-on-year in the first half of this year, but the total export value fell because of lower prices paid for the commodity, an official said Wednesday.

China is the world's biggest producer of peanuts.

Export value fell 22 percent in the period, said Huo Jianguo, president of the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products on Wednesday. He did not give specific figures.

"The international peanut price began to fall in the fourth quarter last year, affected by the financial crisis. The price fell from $1,600 a ton in the first half of 2008 to around $600 a ton at the end of last year, which caused the export value drop," Huo said.

The price of peanuts picked up April this year and has now reached nearly $1,000 a ton, he said.

China produced 15 million tons of peanuts in 2008. It exported 510,000 tons of peanuts with a value of $770 million last year.