Cold storage charges likely to rise amid oil market chaos

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Some goods are seen systematically being placed in cold storage.

Yangonites are currently experiencing fuel crunches amid the forex market policy changes, and cold storage charges are likely to increase, U Hla Han, a chilli pepper warehouse owner, told the Global New Light of Myanmar (GNLM).
The cold storage charges and labour wages are approximately K1,000 per viss of chilli pepper as of the second half of 2023.
The traders who stored chilli peppers at cold storage last year reaped a handsome profit in late 2022.
The cold storage charges were K75 in 2022 and increased to K125 per viss in 2023.
The prices stood at K8,000-8,500 per viss of chilli pepper and K11,000-12,000 per viss of bell pepper in mid-2022. After processing them at cold storage, they were sold at K19,000 per viss of chilli pepper (Moehtaung variety) and K31,000 per viss of bell pepper at the end of the year.
The prices declined in 2023 owing to the weak demand. Some chilli peppers are found to be sent to cold storage in mid-2023 to earn great profit.
The negative consequences of the fuel market might affect fuel-related businesses. Subsequently, the cold storage charges are expected to increase due to lengthening power blackouts and difficulty in buying fuel oil (diesel).
The charges are possibly double or more compared to last year. Consequently, those traders who kept the stocks in cold storage saw little chance to make a profit this year. — TWA/KK

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