Transactions made at four different types of prices in domestic edible oil market

It is said that consumers are purchasing palm oil at four different prices in the market. The wholesale reference price of palm oil was K4,100 per viss, while the retail reference price reached K4,300 per viss. The palm oil was priced at K5,000 per viss in Bayintnaung, Lanmadaw, and Nyaungpinlay markets and traded at around K7,000 and K8,000 in most retail outlets.
In the Mandalay oil market, the wholesale price was set at K6,900 per viss on 18 July. However, after the holiday on 19 July, on the opening day of 20 July, the wholesale price rose from K7,200 to K7,650 per viss within a day, according to the opening price statements of wholesale outlets in the Mandalay Zaycho Market.
The daily price lists of the Yangon edible oil market were impossible to check, and the oil shops said that there were no stocks of palm oil to sell. Meanwhile, some wholesale outlets in Bayintnaung and Nyaungpinlay markets resell to retailers at a price of K4,800 or K5,000 per viss for a limited number of barrels, an oil trader, Daw Myint San, told the Global New Light of Myanmar (GNLM).
An oil dealer in Htantabin Township, Daw Ama, told the GNLM that she had to purchase a few visses of palm oil from some outlets as a quota at a price range of K6,700 to K6,900 per viss since the wholesale outlet she used to order from was out of stock.
Thus, there are two different types of price ranges in most markets, such as around K4,800–K5,000 per viss and around K6,700–K7,000 per viss. Those two types rarely existed in the market, and only those who were selling palm oil at a price of over K7,000 without any limit were said to be more.
Therefore, in July, the domestic edible oil market, including Yangon, was heard criticizing the fact that there was a need to investigate the retail and wholesale prices exceeding the reference price. — TWA/CT

Share this post
Hot News
Hot News
Tatmadaw education schools, Tatmadaw BEHSs turn out 392 distinction winners in matric exam 2024
MNHRC inspects Yamethin Prison, Kintha 1 & 2 Production Camp
Myanmar ambassador to Japan engages with Kumamoto officials, business leaders
Myanmar to participate in 36th VECONAC, 23rd General Assembly in Singapore
Strand Road Night Market opens in Magway
MoE Union Minister receives Ambassador of India
DPM MoD Union Minister leaves for Vietnam to attend state funeral
Myanmar, India to enhance cooperation in e-ID system
DPM MoFA Union Minister attends China-South Asia Expo opening
Indian Ambassador calls on MoHT Union Minister