Nicaragua: Oilseeds and Products Annual

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. While Nicaraguan peanut production is well-capitalized and less affected by record outward migration flows, industry sources indicate the return of an El Niño weather system could reduce marketing year 2023/24 production by as much as 10 percent.