News

Home   >   News

  • The Military Council has re-authorized the export of Burmese peanuts and sesame seeds

    Jul 7th, 2023

    The Department of Trade under the Military Council has announced that the export ban on Myanmar's raw oilseeds, peanuts and sesame, has been suspended.Among the oil crops, except for black sesame, the export of peanuts and sesame has been temporarily suspended since early May. Now, countries that mainly export edible oil to the foreign market have already re-exported regularly, so domestic oilseeds and edible oil will be allowed to be re-exported, according to a statement from the Military Council Department. Domestically grown peanuts and sesame crops are mainly exported from the border to neighboring China and Thailand, and local oil refineries also buy them for oil milling. Currently, the prices of peanuts and sesame seeds are rising in the local market. During the week, the price of peanuts increased by around 250 kyats per pound, and the prices of sesame seeds also increased between 5,000 and 20,000 kyats per bag. According to the Mandalay Commodity Exchange price on July 6, peanuts (red rice) cost 4,600 kyats per pound, while white sesame costs 210,000 kyats per 45-pound bag. 165,000 kyats to 170,000 kyats for a 45-pound bag of brown sesame; A 45-pound bag of black sesame is between 190,000 and 255,000 kyats, respectively. After Indonesia, the world's leading producer and exporter of palm oil, imposed restrictions on exports since late April, Myanmar, which buys and imports palm oil, has had an impact. The prices of peanuts and sesame seeds, which are oil products, also increased. Currently, although the international price of palm oil has decreased, the local retail market has risen to around 8,000 to 9,000 kyats per pound. Sesame oil prices also increased again.After the military coup, Burma's economy is bankrupt, and the country's trade policies are set to change according to what various military leaders say.


    Source: https://burmese.dvb.no/post/542310
Top