Peanut and sesame oil prices rise

Although there was little change in peanut and sesame oil prices in December 2022, the prices have soared these days due to the high price of peanut and sesame seeds.
The wholesale price of peanut oil and sesame oil in the Monywa market remained steady at K9,000-K9,500 per viss, but it has now escalated to K10,000-K11,000 per viss for peanut oil and K10,000-K10,500 for sesame oil, according to the market information.
Similarly, the Mandalay market got the wholesale price per viss of K11,000 for peanut oil, K10,000-K11,000 for sesame oil and K12,000-K13,000 for sunflower oil on 12 January, according to the market reports.
Although the price of peanuts increased by around K500 per viss in early January compared to December, the peanut expeller cake was priced at only K2,700 per viss.
The price of sesame went up by around K10,000 per basket (which holds fifteen visses) than before and the sunflower price constantly stood at K87,000-K95,000 per 27 visses. The wholesale price of peanut and sesame oil per viss is double the price of palm oil, as palm oil was in lower demand in the market rather than peanut and sesame oil. Most consumers are people from basic strata, still backing up palm oil to get the largest market share.
In the same period last year, the price of palm oil was around K4,500 per viss while the price of peanut oil was only K5,500 per viss. Therefore, the price of peanut oil has doubled in H1 of this year compared to the same period last year. The price of peanut oil is higher than palm oil by around K5,000 per viss. The competitive promotions of peanut oil sellers can be seen, pricing around K13,000 per viss. — TWA/CT