Domestic Peanut Prices Fall; Minister Chen Jun-ji Says Unrelated to US-Taiwan Tariff Agreement

(Central News Agency, reporter Lin Yin-yin, Taipei, 10th) Media reports indicated that the first crop of peanuts has entered the harvest season, with opening prices at only NT$35 per catty (approx. 600 grams), which was attributed to market expectations surrounding the US-Taiwan Agreement on Trade (ART). In response, Agriculture Minister Chen Jun-ji stated today that this is misinformation and that it is inappropriate to use such erroneous information and policies not yet implemented to influence farm-gate prices. He warned that if false or deliberate rumors are confirmed, an investigation will be launched.

According to reports, the first crop of peanuts began harvesting at the end of May this year. Over the past three years, the average farm-gate price for the first crop of peanuts has remained between NT$45 and NT$48 per catty. However, this year, prices fell immediately after the start of the harvest, with the current opening price at only NT$35 per catty, a difference of more than NT$10.

Speaking to reporters before attending a session of the Legislative Yuan's Economics Committee on the 10th, Chen pointed out that all current peanut imports, whether within quotas or regarding tariffs, remain exactly the same as before, with no changes whatsoever. Currently, peanut harvesting in Yunlin County is in its early stages, with about 5% of the crop harvested. Due to recent heavy rain, harvesting has been suspended in some areas.

Chen stated that media reports claiming some traders or specific individuals said peanut prices might drop due to US imports are misinformation, as domestic demand has not changed.

Chen emphasized that farmers are waiting to harvest their hard-grown peanuts amid the heavy rain, and it is inappropriate to use such false information and unimplemented policies to influence farm-gate prices. The Ministry of Agriculture will continue to monitor the situation and will launch investigations if false or deliberate rumors, such as 'US peanuts suppressing Taiwan,' are found.

Chen noted that in response to potential future US peanut imports, the Ministry has already prepared relevant measures, initiated symposiums, and will also launch group cultivation and wet pod purchasing systems.

He stated that the Ministry has designed a Taiwan Peanut Label and submitted it to the Intellectual Property Office of the Ministry of Economic Affairs for review, with an announcement expected in mid-July. Regarding the labeling of the origin of raw materials for processed peanut products, discussions continue with the Food and Drug Administration of the Ministry of Health and Welfare. The goal is to effectively differentiate Taiwanese peanuts from imported peanuts through the Taiwan Peanut Label and origin labeling. (Editor: Xie Jiazhen) 1150610