IT was announced on 15 May that it would take action under the Important Goods and Services Act if the persons raises prices, stores goods illegally and scams in the domestic market.
The Committee for the Supervision
of the Import and Distribution of Edible Oils under the Ministry of Commerce
has issued the statement in a bid to manage the domestic palm oil prices.
Depending on the daily monitoring
of FOB prices in Malaysia and Indonesia, transportation costs, bank expenses,
and basic wholesale reference price to be traded in the local market are taken
into account, including taxes for setting the proper prices.
Palm oil prices fallen slightly in
the world’s palm oil exporters this week, with FOB prices expected to rise
sharply this week. From 16 to 22 May, the basic Yangon Reference Wholesale
Price of palm oil is K5,685 per Viss.
These 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
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