Taiwan agriculture ministry to investigate peanut price drops amid farmer concerns

Taiwan's Ministry of Agriculture is launching a cross-agency investigation into allegations of deliberate price suppression in the peanut market. The move comes after reports of falling peanut prices, with some speculating a connection to the Taiwan-US equivalence trade agreement. However, Agriculture Minister Chen Chun-chi strongly refuted this, emphasizing that the agreement has not yet been implemented.

Yunlin County, a major peanut-producing region, has expressed support for the investigation. County Magistrate Zhang Li-shan urged the central government to implement short, medium, and long-term plans to protect farmers from market fluctuations and potential harm from incoming US agricultural products. She stressed the need for clear policy directions and mechanisms to safeguard farmers amidst international trade changes.

Minister Chen stated that current peanut harvesting is only about 5% complete, with some areas temporarily halted due to heavy rains. He criticized the spread of misinformation aimed at driving down purchase prices while farmers are still harvesting. Chen asserted that such rumors, especially those linking current prices to future trade policies, are unfounded and will be subject to a joint investigation.

Zhang added that farmers require clear information and policy guidance. She called for transparency regarding the operation of the agricultural safety fund and its ability to provide substantial support. The county magistrate emphasized that proactive planning is crucial to minimize potential damage to the agricultural sector as trade dynamics evolve.

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