Do not sell at inflated prices: Seven edible palm oil sellers in Myanmar are being held accountable

Published 2024년 6월 26일

Tridge summary

The article outlines the efforts of U Kyaw Kyaw Lwin and other authorities in Yangon Province to ensure the fair sale of edible palm oil. Establishing accountability for the violation of the Important Goods Law, they have penalized several stores for improper sales practices. To promote transparency and compliance, over 400 retailers and wholesalers were recently admonished for setting higher prices than the basic reference price. An effort to regulate the market by allocating 2,660 barrels of edible palm oil in Yangon Province daily, with a set selling price that includes a 2% profit, aims to stabilize prices and protect consumer rights.

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Original content

U Kyaw Kyaw Lwin said that when edible palm oil is sold, in addition to the transportation cost on top of the basic reference price, a 2% profit is added for sales. Township management, township development bureau and other organizations are conducting on-site inspections. Stores that fail to sell according to regulations are being held accountable. Edible palm oil has been stipulated as an important commodity, so it is held accountable under the Important Goods Law. There have been 7 cases in Yangon Province. At present, knowledge popularization and publicity work is also being carried out to clearly inform that stores that fail to sell according to regulations will be held accountable. On June 20, the authorities summoned more than 400 retail and wholesale sellers to remind them not to raise the price of edible palm oil. U Kyaw Kyaw Lwin said that on June 20, we were in the Mingala Hall of UMFCCI More than 400 sellers were summoned, led by the director of the provincial ...

Source: Foodmate