Myanmar: Daily monitoring ensures fair pricing for essential commodities

Published 2024년 6월 22일

Tridge summary

The head of the Yangon Region Department of Consumer Affairs in Myanmar, U Kyaw Kyaw Lwin, has announced ongoing inspections and actions against price increases in essential goods such as rice, medicines, and palm oil. No recent overcharging incidents have been reported for medicines, and sellers of palm oil are being warned to adhere to the reference price, with strict enforcement under the Important Commodities Act and the Essential Supplies and Services Law for fraudulent activities and hoarding. The Myanmar Edible Oil Dealers Association is also advising members to maintain a reasonable profit margin and not to resell palm oil at high profits or mix it with other cooking oils.

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Original content

Daily inspections are being conducted on the prices of rice, medicines and palm oil, and actions will be taken for any price increases according to U Kyaw Kyaw Lwin, Head of the Yangon Region, Department of Consumer Affairs of the Ministry of Commerce. "We are inspecting the high prices of medicines, palm oil, and rice, similar to how we control palm oil prices. Since last April and May, we have been inspecting medicine warehouses and rice shops to control high prices. This process is conducted daily, and we are raising awareness to take action if prices are too high, ensuring there is no shortage of goods," U Kyaw Kyaw Lwin explained. He mentioned that there have been no recent incidents of overcharging for drugs. Regarding palm oil, he noted that measures will be taken against sellers not adhering to the reference price. "We have clarified to all traders that action will be taken under the Important Commodities Act if oil sellers do not follow the specified reference price. ...

Source: Elevenmyanmar