Selling 50 palm oil barrels per wholesale outlet on quota basis brings sufficient distribution to retail outlets

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People are seen queuing up to buy palm oil from a mobile shop.

According to oil traders, the companies selling 50 barrels per palm oil wholesale outlet countryside benefited small retail outlets by having proper distribution.
In the second week of September, some companies that import oil from abroad are selling up to 50 barrels containing 110 visses of palm oil to each wholesale oil outlet in some regions at a reference price.
Palm oil is taken from the Thilawa oil tank, and the overall shipping cost to the regions is K8,000 per oil barrel, an owner of a truck terminal going to delta regions told the Global New Light of Myanmar (GNLM).
Palm oil is being sold in the permitted regions at a price of K4,900 per viss set by the company. The wholesale reference price this week is K4,524 for a viss of palm oil.
It can be seen that palm oil is being sold at the wholesale reference rate of K4,750 per viss everywhere in Yangon. Although there are many buyers standing in line, most of them are buying to make a profit rather than as actual end users.
Now, it is known that retail resellers or business users can purchase 10 visses or more after submitting a copy of the Citizenship Scrutiny Card (CSC), the shop or business address, and a signed pledge to resell, paying only two per cent of the service fee and profit.
Due to the changes in the sales pattern, oil queue sales disappeared in the Bayintnaung Market, and regional retail oil outlets are able to resell palm oil at a fixed reference price to consumers after purchasing from major oil outlets.
Around 40,000 tonnes of palm oil can be imported from abroad until 20 September, according to the lists of cargo vessels to be docked. — TWA/CT

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