Peanut Prices Drop; Premier Cho Jung-tai Orders Joint Inspection to Crack Down on Price Suppression

(Central News Agency, reporter Lai Yu-chen, Taipei, June 11) Amid falling prices of domestically produced peanuts, Premier Cho Jung-tai today instructed the Ministry of Agriculture, the Fair Trade Commission, and the Ministry of Justice to immediately launch joint inspections at peanut production areas to prevent illegal acts such as deliberately suppressing purchase prices. If evidence is found, legal action will be taken to fully protect farmers' rights.

Recently, the price of domestic peanuts has fallen, with farmers suspecting a link to expectations surrounding the U.S.-Taiwan Agreement on Trade (ART). Minister of Agriculture Chen Jun-jih stated yesterday that media reports of specific individuals or traders lowering peanut prices due to the ART are false information. He emphasized that erroneous information or policies not yet implemented should not affect production area prices, and inspections would be launched.

Executive Yuan Spokesperson Lee Hui-chih, at a press conference following the Executive Yuan meeting today, relayed that Minister Chen discussed domestic peanut prices during the meeting. He noted that peanut harvesting is in its early stages but has been suspended due to heavy rain. However, false media reports have caused peanut farmers to panic, fearing price drops.

Minister Chen said that prices in the early harvest period cannot reflect later prices. Therefore, he called for joint inspections to prevent false rumors from causing farmer panic and affecting peanut pod prices.

Following the Executive Yuan meeting, a press release stated that Premier Cho instructed the Ministry of Agriculture, the Fair Trade Commission, and the Ministry of Justice to immediately launch joint inspections at peanut production areas to prevent illegal acts such as deliberately suppressing purchase prices. If evidence is found, legal action will be taken to fully protect peanut farmers' rights.

Regarding concerns about the impact of the ART on Taiwanese agriculture, Spokesperson Lee stated at the press conference that the Ministry of Agriculture has fully communicated and explained the situation with relevant agricultural counties and cities. Concurrently, it will propose systematic market segmentation measures, including: 1. The Ministry of Agriculture 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 by mid-July at the latest; 2. The Ministry of Agriculture is in communication with the Ministry of Health and Welfare regarding the labeling of raw material origins for processed peanut products.

Spokesperson Lee said the Ministry of Agriculture will continue to monitor peanut prices and propose appropriate assistance measures when necessary. (Editor: Su Zhi-zong) 1150611