Technical Abstract: Moisture content (MC) in peanuts is an important parameter to be measured and monitored at various stages in peanut industry. Earlier a method was developed to estimate the MC of a peanut sample held between a set of parallel-plate conductors from the measured values of capacitance and phase angle of the system, using commercially available impedance analyzers which are considerably expensive. In this work, a low-cost impedance analyzer called the CI meter, designed and developed to measure impedance and phase angles at frequencies 1, 5 and 9 MHz was used with a parallel-plate capacitance system. The average MC values predicted by the CI meter for peanut samples harvested during three different years were compared with the standard air-oven values. For over 94% of the samples tested in the moisture range between 6% and 23% the average MC values were found to be within 1% of the air-oven values. Ability to determine the average MC of in-shell peanuts without shelling and cleaning them can be of considerable use in the peanut industry.