Peanut oil price dips below K9,500

The prices of peanut and sesame seeds slid to K9,000-9,500 per viss (a viss equals 1.6 kilogrammes), according to the Monywa commodity centre’s price data on 4 October.
The price of peanuts moved in the range of K4,800 and K5,100 per viss. The prices of sesame stood at K70,000 per 15-viss of brown sesame and K75,000-85,000 per 15-viss of white and black sesame seeds. The price of a peanut cake meal is K2,650 per viss and a sesame cake meal is worth K2,000 per viss.
About 38-44 ticals of peanut oil and 55 ticals of peanut cake meal are produced if a viss of peanut is processed at a mill. A 15-viss of sesame seeds can produce 6.5 visses of sesame oil and seven visses of sesame cake meal on average, Ko Htay, who is involved in the sesame oil milling business in Myingyan town, explained.
The original prices were K8,800 per viss of sesame oil and K8,900 per viss of peanut oil, including production cost. As the prices were down by K1,500 per viss of peanut and K20,000 per basket of sesame seeds, the original price has fallen accordingly.
Although the wholesale prices of peanut and sesame oil are K9,000-9,500 per viss, the sales of edible oil at K10,000-14,000 per viss are seen on digital platforms. The retail prices of peanut oil at shopping centres were K16,000-20,000 per viss on 4 October, Ma Ni Ni, a shopper at one shopping centre, told the Global New Light of Myanmar (GNLM).
The volume of edible oil production per acre is 114 viss for peanuts, 56 for sesame oil, 67 for sunflower oil and 140 for hybrid sunflower respectively.
The wholesale price of palm oil was K6,700 per viss on 5 October. The peanut oil price is K3,000 per viss higher than the palm oil market price. – TWA/GNLM