Prices of palm oil, potato extend drop; prices of onion, sugar stable; rice price slightly rises

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Onion bags are seen being carried at the Bayintnaung wholesale centre.

The wholesale price of palm oil in the commercial hub Yangon continued to decline to K8,900 per viss (a viss equals 1.6 kilogrammes) on 26 August, Ko Thet, a trader who delivers the goods to regions other than Yangon, told the Global New Light of Myanmar (GNLM).
On 25 August, it fetched only K9,100 per viss. The prices of grocery items including palm oil slightly decreased in recent days on the demand slump, traders shared their opinions.
Last week, palm oil transactions did not see in some regions outside Yangon amid the volatile market. On 26 August, palm oil wholesale price was estimated at K9,500 there.
“The palm oil was priced at K105,000 per jerry can (10 visses). On 25 August, the price declined to K97,000-98,000 per 10 visses,” the GNLM quoted Daw Kyin, a buyer who made an order from Myingyan town, as saying.
On 26 August, potato prices also continued to drop. The prices of local Shan potatoes were K1,300-2,100 per viss while Chinese potatoes were offered at K1,850-1,900 per viss, according to the potato warehouse on Yetama Street.
Meanwhile, onion prices were quite stable on 26 August, Ko Thet said.
The prices of onions were just K2,200-2800 for onions from Seikphyu Township and K2,350 -2,900 for Monywa township yesterday.
The popular branded sugar prices also remain unchanged for a few days, Ko Ta Yote from the sugar warehouse told the GNLM.
The branded sugar price reached the maximum of K2,240 per viss in the wholesale market, while other branded sugar was priced at K2,220-2,230 per viss. There is only a small price gap between the popular brand and other brands, Ko Thet stated.
Sugar mills will restart their operations soon so the trading is quite slow-moving. There is a low chance for the sugar sellers to raise the price as they need to sell off the old stocks and sugar is a local product, Daw Yee, a sugar manufacturer explained market conditions to the GNLM.
The price of sugar has been relatively stable at K2,220-2,240 per viss in the past two months (14 June-26 August), Ko Phyo Ko, a seller from Pathein city, told the GNLM.
The retail price of high-grade Pawsan from Myaungmya and Pyapon areas moved in the range of K60,000 and K63,000 per bag in mid-July 2022. The price slightly rose to K70,000-72,000 per bag in the third week of August. — TWA/GNLM

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