The demand for peanuts increased in June of this year, resulting in a price increase across Mon State.
According to a local trader, peanut butter manufacturers use palm oil to help make it creamy and spreadable. Palm oil prices have risen and now, so has the price of raw peanuts. In addition, sesame seed prices have also increased.
“The increase in prices is due to the increase in palm oil prices. Peanut and sesame prices have risen due to higher palm oil prices,” he said.
The price for a basket of peanuts was only 64,000 kyats last March but has now increased to 87,000 kyats per basket.
According to a palm oil wholesaler in Mawlamyine, a 10-pound barrel of peanut oil costs 100,000 kyats in the local oil market.
” Palm oil prices are all going up. They are going up a lot. Now peanut oil is also good, so peanut prices are going up,” he said.
Peanuts are grown in Kyaikto, Belin, Mawlamyine, Kyaikmaraw and Chaungzon townships in Mon State.
