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Peanut oil, sesame oil, sunflower oil prices on the rise

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Various oil brands sold in the market.

As the peanut, sesame and sunflower prices are high in the market and the prices of peanut oil, sesame oil and sunflower oil are also on the rise in early August.
In July, the peanut oil price was K9,000-K9,500 per viss while K8,000-K8,500 per viss of sesame oil, K7,500-K8,000 per viss of sunflower and K7,000-K7,200 per viss of soybean oil. On 5 August, the peanut oil price was K11,000-K12,000 per viss while K9,000-K9,500 per viss of sesame oil, K9,000-K9,500 per viss of sunflower oil and K7,000-K7,200 per viss of soybean oil, according to the data of the Mandalay NGO. In the local market, the peanut oil is priced at K10,000-K11,000 per viss and the sesame oil at K8,500-K9,000 per viss.
In the Mandalay market, the peanut price was K5,500-K5,600 per viss of S1 seed, K5,200-5,300 per viss of S1 seed on 30 July and the S1 seed was K6,050-K6,150 per viss and S1 seed K5,700-K5,900 per viss on 5 August.
Similarly, the sesame price was K4,000 per viss and reached K4,400 per viss on 5 August.
On 30 July, the sunflower price was K77,000 per basket and rose to K80,000 per basket on 5 August. One viss of peanut produces between 38 and 43 ticals of oil after grinding while one viss of sesame produces about 40 ticals of oil. The peanut expeller cake was priced at K1,900 per viss and now K2,075-K2,100 while K1,300-K1,350 per viss of sesame expeller cake and K1,180 per viss of sunflower expeller cake.
During the new peanut season, the peanut demand is high in the Mandalay market and so the price is high about K500 per viss, said an oil miller.
Similarly, the sesame demand in China is also high and sesame prices have also increased. If the sesame is ground and sold in the region that produces sesame, the sale rate is low and so it is sold to the large-scale oil miller, said a small-scale miller.
In Myanmar, the individual oil consumption rate was two visses and 50 ticals in 1935, three visses and 80 ticals in 1975 and five visses and 60 ticals in 2012 and it reaches about eight visses in recent years, according to the data.
According to the official statement, the country grows 7.37 million acres of edible oil crops and produces 96.22 million baskets of edible oil crops. It exported 0.18 million tonnes of sesame worth $236.33 million. in 2014, the export peanut price was $1,629 per tonne, and $1,844 per tonne of sesame and the imported palm oil price was $759 per tonne. The prices of locally produced peanut and sesame prices were higher than the palm oil prices.
In the local and foreign oil market, the price gaps between palm oil and peanut oil, sunflower oil and sesame oil are still wide. — TWA/GNLM

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