Peanut prices reach record high in Mon State

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Mawlamyine, July (28)

The increased demand for cooking oil and fewer stocks of oil have prompted the prices of peanuts to a record high, the beans, peas, and sesame traders told Than Lwin Times.

In the first week of July, the price of peanuts was only 84,000 kyats per basket, and in the last week of July, they hit a record high of 93,000 kyats per basket.

The price of peanuts has increased due to the fact that peanuts are purchased as raw material for the production of edible oil as well as for use in fried beans, the traders said.

“Now, there is less stock of peanuts in the country. The product is in short supply in the domestic market. I think that’s why prices have gone up in the region,” he said.

In addition, because peanuts are exported from the Muse border trade zone to China, there is a shortage and prices have soared in the contry.

At the moment, the price of one viss of peanut oil in the domestic market has risen from 10,000 kyats to 13,000 kyats, while the price of peanut oil cake has soared to 1,800 kyats per viss from 1,600 kyats per viss.

In Mon State, peanuts are grown as a winter crop in Kyaikmaraw, Chaungsone, Mawlamyine, Belin and Kyaikto Townships.

White peanuts seeds are exported to Thailand, red peanuts to China, and the rest are used for fried beans and edible oil.

News – Than Lwin Times

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