Peanuts, or "groundnuts" as they are known in some parts of the world, are the edible seeds of a legume, Arachis hypogaea, and they are high in protein, oil and fiber. Peanuts produced in the U.S. are mostly used in food and confection products, but more than 50 percent of the worldwide production is crushed for its oil. World peanut production totals approximately 29 million metric tons per year, with the U.S. being the world’s third largest producer, after China and India. Worldwide peanut exports are approximately 1.25 million metric tons.