Reference wholesale price of palm oil published as K4,545 per viss

As the Committee for the Supervision of the Import and Distribution of Edible Oils under the Ministry of Commerce is working to regulate the domestic palm oil prices in accordance with the global price changes, it publishes the wholesale reference price of palm oil for the domestic market by monitoring the FOB prices in Malaysia and Indonesia daily. The transportation costs, bank expenses and taxes are also taken into consideration.
According to market and price in the world’s palm oil exporters this week, the committee has announced the basic Yangon reference wholesale price of palm oil is K4,545 per viss within 3 and 9 April.
In addition, it has been notified that action will be taken under the Essential Supplies and Services Law if any fraudulent activities are carried out for the purpose of price manipulation in the domestic market.
The basic wholesale quotes are available on the Department of Consumer Affairs website: www.doca.gov.mm and on the Facebook page of the Myanmar Oil Traders and Oil Entrepreneurs Association. — MNA/CT