Although the white peanut market receives China’s high demands, the prices are still freezing in Monywa market according to U Thein Oo, an owner of Myanmar Thein Depot.
“Currently, the price of peanuts has decreased to low price and the peanuts in the market are from ChaungU, Myinmu, and Myaung townships. The old peanuts from Budalin, Tabayin and Kani townships fetch K2,800 per viss (a viss equals 1.6 kg) but they are currently out of stock in Monywa market. The new peanut ranges K3,000 per viss in current market. Moreover, this new peanut have received the high demands due to the quality”, said U Thein Oo.
The white and red peanuts are mainly exported to China market because they are widely used for food businesses. As the peanuts are available every season, the price fluctuations have occurred among the commodity depot depending on the qualities. The peanuts are not only selling well in local market but also exporting to foreign markets”, said U Thaung, a peanut grower.
“Price of peanuts can increase if the growers become to reduce the peanut plantations in Monywa. There are a large number of peanut consumers in local and China market. The price of peanut inclined to K4,200 per viss last year due to China’s high demands”, he added.
The red peanuts from the upper regions which are harvested in January are annually sent to Monywa market and the white peanuts are mainly exported to China. —Myo Win Tun (Monywa)
(Translated by La Wonn)