The peanuts, or groundnut (Arachis hypogaea), is a species in the legume or “bean” family (Fabaceae). The peanut was probably first domesticated and cultivated in the valleys of Paraguay. Despite its name and appearance, the peanut is not a nut but rather a legume. Peanuts are rich in nutrients, providing over 30 essential nutrients and phytonutrients. Peanuts are a good source of niacin, folate, fibre, vitamin E, magnesium and phosphorus.