The preliminary projection for world peanut production in 2012/2013 is 39.93 million metric tons. In 2006, it was 32.30 million metric tons. That is in-shell weight.
The global shelling percentage (how much peanut is left after shelling, by mass) is about 70% (El Bassam. Handbook of Bioenergy Crops: A Complete Reference to Species, Development and Applications. 2010. At p. 200).
That results in about 28 million metric tons of shelled peanut in 2013, or 23 million metric tons of shelled peanut in 2006.
For 1/100 of that to find its way into Peanut M&Ms would mean that at least 0.28 million metric tons of peanuts are used in Peanut M&Ms per year (or 0.23 million metric tons at 2006 levels of production).
The average mass of a Peanut M&M is 2.59 grams (with a standard error of 0.03 grams). (The average mass of Peanut M&Ms is an upper bound on the average mass of peanut in them. There are other ingredients.)
0.23 million metric tons (the 2006 number) of 2.59 gram units is 88,803,088,803 units. At least 88 billion Peanut M&Ms would be needed to be produced. (For 2013, the requisite number is 108 billion Peanut M&Ms.)
There are about 146 billion M&M candies produced per year. (Sutton and Klein. Enterprise Marketing Management: The New Science of Marketing. 2006. At p. 139). This estimate is still current. I confirmed this by a phone call to Mars. They said:
We make about 400 million M&M pieces every day; that's for all types.
Basically the question comes down to whether it's plausible (or even better, whether there's evidence) that at least 60% (for 2006) or at least 74% (for 2013) of M&Ms are peanut M&Ms.