Sunflower oil and peanut oil stand at identical retail prices

Normally, peanut oil has the highest price in the edible oil market, while sesame oil and sunflower oil are usually priced roughly at K2,000-3,000 less than peanut oil per viss.
However, the price of peanut oil and sunflower oil are sold at the same price in the Yangon retail market, said Ko Hla Aung, who sells rice and peanut oil in Lanmadaw Township.
In the market, well-known brands of peanut oil retail at K17,500 per viss, and some brands of sunflower oil are also selling at this price.
Even a low-priced brand of sunflower oil costs K14,400 per viss and it is seen that the quantity sold is limited at this price.
In the edible oil market, only sunflower oil can be seen. Sunflower oil is sold under different brands at different prices.
In the middle of 2022, the retail price of well-known brand peanut oil was K8,500 per viss, and in about three months, the price has tripled to around K17,000.
The retail price of sunflower oil has risen in the retail market, and the retail price of peanut oil may also rise in days, said a peanut oil retailer.
As the price of peanuts increases, the price of peanut oil increases. There are different selling prices of peanut oil depending on the quality and price of the peanut.
The wholesale prices of edible oil in the Mandalay market are K5,500-5,800 per viss of S 1 peanut oil, K13,500-14,500 per viss of special peanut oil with soybeans costing K3,200.
On a national scale, in the 2022/2023 financial year, one million acres of sunflower plantations will produce an average of around one hundred million visses of sunflower oil (200,000 tonnes), thus there is potential to adequately meet the domestic consumption oil demand, U San Aung, who is studying the prices of cooking oil, told the Global New Light of Myanmar (GNLM).
In the domestic edible oil market, peanut oil, sesame oil and domestically produced sunflower oil have entered the palm oil market.
Local oil buyer Ko Min Min Tun told the GNLM that this year, various brands of sunflower oil from abroad have taken their place in the domestic oil market, replacing domestically produced sunflower oil. — TWA/GNLM

Share this post
Hot News
Hot News