The fighting that has broken out in Myanmar since the beginning of this year has affected all parts of the country, and one of the hardest hit is the peanut and sesame market.
The city of Magway, located in northern Myanmar's Shan State, is considered an important trading center for peanuts and sesame seeds, but the war has caused a large market and cold trading. According to the vice-president of the Magway Cargo Exchange, the closure of the border route to China due to the war and the inability to carry out normal exports became one of the reasons for the market downturn.
At the same time, there is too much inventory in the Magway market and the oversupply is also an important reason. Faced with a downturn in the market, many businessmen are in the redundant straits.
They can only wait for the war to end and the export lines to resume and reopen before the market is likely to pick up, and with *** However, this will take time and stabilize the situation.
Merchants face many uncertainties and need to adjust their strategies and control costs to stay afloat.
In addition to the peanut and sesame markets, rice sales have also been affected.
The Ministry of Commerce of Myanmar has issued a notice on the pricing of rice sales to maintain market order. According to the circular, the pricing of rice is based on the accounting of different types and specifications of rice grains.
On the basis of taking into account the profits of farmers and rice millers, the Ministry of Commerce has formulated pricing standards based on the international and domestic markets**. According to this standard, sales in the retail and wholesale markets** can be increased or decreased by 5%, while in supermarkets and convenience stores, they can be increased or decreased by 12%.
The introduction of this pricing system not only protects the interests of farmers and rice millers, but also helps to stabilize the market**. By adjusting pricing, Myanmar's Ministry of Commerce tries to balance market supply and demand, and appropriately guide *** to ensure stable economic operation.
In summary, the fighting in Myanmar has had a certain impact on the peanut and sesame markets, as well as on rice sales. However, with the end of the war and the resumption of export routes, the market is expected to gradually pick up, and so will it.