Myanmar has strong purchasing power for oil crops such as peanuts and sesame, and the prices are excellent

Published 2024년 8월 26일

Tridge summary

Myanmar is experiencing a surge in the market for oil crops such as peanuts, sunflower seeds, rapeseed, and sesame due to strong demand and rising prices. The high cost of imported edible palm oil, caused by the appreciation of the US dollar exchange rate, has led to increased production of domestic edible oils. Despite the flooding affecting planting seasons in some areas, farmers are holding onto their inventory to capitalize on the high prices. Among the domestically produced edible oils, peanut oil is the most preferred, followed by sunflower oil and rapeseed oil. Sesame oil is less favored due to its strong smell. The country has over 3,000 legally registered oil pressing mills and more than 1,000 individual small-scale operations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A sesame and sunflower seed merchant said that now all oil crops are easy to sell, the purchasing power is strong, and the price continues to rise. One bunch of peanuts costs at least 10,000 Myanmar Kyats, and the highest is 25,000 Myanmar Kyats. Because sunflower seeds are also oil crops, there is a demand in the country, so the price is also excellent. Not many people buy sunflower seeds fried into melon seeds, but sunflower seeds used for oil extraction are very popular with oil extraction manufacturers, who are buying them in large quantities, and the price continues to rise. Sunflower seeds are sold by bag, and one bag costs at least 150,000 Myanmar Kyats, and the highest is more than 200,000 Myanmar Kyats. Other rapeseed, sesame, and peanuts Although the price is not as high as sunflower seeds, the price has also risen. 80% of domestic consumption of edible palm oil is imported by edible oil importers in US dollars, and the remaining 20% is distributed by domestic oil mills ...

Source: Foodmate