Palm oil sold at low price to consumers

The Myanmar Edible Oil Dealers’ Association reports that palm oil is being distributed to customers at a low price, in trucks carrying six barrels, 65 trucks per day.
From 17 July, K3,400 per viss of palm oil is being sold in over 30 townships with vehicles carrying six barrels each containing 110 visses. In the third week of August, palm oil’s selling price increased K4,140 per viss.
It costs between K8,000 and K9,600 per viss to sell palm oil in townships of Yangon. From the Myanmar Edible Oil Dealers’ Association, palm oil is being sold from 50 ticals to one viss per person to facilitate consumers with a small price change once a week.
A total of 40,000 tonnes of palm oil was imported to Yangon in July to meet domestic consumption. A person in Yangon consumes 2 ticals of palm oil per day and measured by the consumption of 50,000 to 60,000 tonnes per month nationwide, palm oil is imported from abroad.
By increasing the production of sunflower and oilseed crops domestically, palm oil imports from abroad will be reduced, and the price of domestic edible oil will decrease due to the increase in domestic production.
As Myanmar Edible Oil Dealers’ Association is selling palm oil at a low price for consumers and trying to continue direct buying from wholesale depots, industrials and food industries. — Nyein Thu (MNA)/GNLM