Mandalay market thrives as Chinese demand boosts peanut transactions

The peanut demand from China became strong in the 2024 pre-season so the transaction of peanuts is in good condition in Mandalay market, according to Mandalay merchants.
The peanuts from Natogyi, Bagan, NyaungU, Myingyan, Kyaukpadaung and Chauk enter the Mandalay market by the end of 2023. Due to the strong demand in China, the red peanut is priced at K7,300 per viss and the white peanut S-1 fetches K7,100 per viss.
“The Chinese suppliers purchase the peanuts in the new year period and so the sales are good in the market. The transactions of winter crops are in good condition. But it was slack last month. Currently, Chinese merchants buy peanuts again and so the prices are high. Moreover, large amounts of peanuts are currently entering the market. The farmers reap good profits this season. The transaction of peanut is good due to the high demand from China,” said U Soe Win Myint, owner of Soe Win Myint wholesale centre in Mandalay.
The peanut is grown in Mandalay, Sagaing, Magway, and Ayeyawady regions to ensure local consumption and also as a main crop for export. Of these regions, Magway is described as the oil bowl of the country. — Min Htet Aung (Mandalay Sub-printing House)/KTZH