Nicaragua: Oilseeds and Products Annual

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. Peanut farmers reported an increase of 16 percent in planted area, equivalent to 6,200 hectares, after local banks resumed financing for peanut farming. The MY 2020/2021 peanut harvest did not suffer significant damage from Hurricanes ETA and IOTA, which battered Nicaragua in late 2020. For MY 2021/2022, Nicaraguan peanut farmers anticipate a five percent increase in planted area leading to production approaching 200,000 mt if favorable market conditions continue and local banks are willing to finance new production areas.