Palm oil to be sold at reference price in the rest rural towns

It has a plan to continue distribution and sale in the rest rural towns while offering palm oil at reference prices not only in Yangon but also in 25 townships where the edible oil dealers’ associations are affiliated, according to the Myanmar Edible Oil Dealers’ Association — MEODA dated 4 September.
In such sales, the statement notified that it has to sell at a price adding two per cent of net profit and general expenses on the wholesale reference price and does not sell to consumers at a price exceeding 10 per cent of the total profit on the reference price even when step-by-step selling and purchasing.
Phone numbers are also provided to contact to complain when selling at the exceeding price.
The reference price was set at K4,160 per viss from 4 to 10 September. The CIF prices stood at US$935 per tonne of palm oil. The original price of palm oil was K4,081 per viss when it was calculated at an exchange rate of K2,513.
Additionally, 9,000 tonnes of palm oil on 2 September and 3,400 tonnes on 4 September, totalling 12,000 tonnes which are equal to some seven million visses were imported. — TWA/MKKS