Lack of peanut export drives prices down

The prices of peanut and peanut oil declined without peanut exports. The prices touched a low of K11,500 per viss of peanut oil and K2,325 per viss of peanut oil cake in the Monywa commodity depot.
Nonetheless, branded peanut oil was priced higher at K13,500-K15,000 per viss. The peanut prices fell to K5,000-K6,000 per viss on 2 December from K6,300-K8,300 per viss on 27 September.
A piece of news is spreading on social media that the USA-made peanut oil will enter the market at K15,000 per viss. If so, there will be a competitive market against the locally produced peanut oil.
This month, 60 companies have been given the green light for oil import. Approximately 70,000 tonnes of peanut oil are slated to be brought into the country. — TWA/KK