China’s decision to restrict importation of rice, sugar, corn, and some agro products last month has led to a suspension of trade. But, recently, a high volume of peanut purchases by Chinese merchants has been witnessed in the Mandalay market.
“Due to last month’s trade suspension, goods meant for export to China are piling up in warehouses. But lately, Chinese merchants have been visiting villages to purchase peanuts. Lately, they are buying all the peanuts that the growers can supply,” said U Soe Win Myint, a depot owner from Mandalay.
With the increase in demand, the price of red peanuts has risen from Ks2,700 to Ks3,000 per viss (1.6 kg).
At present, it is peanut harvest season in Magway, Kyaukpadaung, Taungdwingyi, and Natmauk, while in upper Myanmar, Madaya, Singu, Htigyaing, Pakokku, and Yesagyo towns, the planting season has begun.
“The prices will not drop as some growers are purchasing peanuts to plant them, and there’s a high demand from Chinese merchants. Peanuts have a steady yield. Growers are happy with the regular demand at a high price,” said U Soe Win Myint.
While the Mandalay pulses market has cooled at present due to low demand from China, a high demand from China has pushed prices of black sesame seeds to a high of Ks270,000 per three-basket bag.
—Min Htet Aung (Mandalay Sub-printing House)
(Translated by Ei Myat Mon)