Peanut prices rise again in Magway

In Magway City, Magway Region, peanut prices have been gradually rising in recent days, according to U Kyaw Tun, Vice Chairman of the Magway Commodity Exchange. He stated that the prices of peanuts and sesame, used for crushing oil, have risen due to the low import of palm oil, and that the prices have also increased because the yield of rainy-season peanuts is low. U Kyaw Tun said that in Magway City, peanuts are being traded at prices ranging from 12,000 to 12,300 kyats per viss (approximately 1.6 kg), and that price fluctuations depend on the price of palm oil. He also mentioned that peanuts produced in Magway Region are exported to China, as well as sold in Yangon and Myawaddy. It is known that peanut cultivation in Magway Region is low during the rainy season, and a large amount is cultivated as winter peanuts during the latter part of the rainy season.