Myanmar: Palm oil reference prices drop to six-month low

to meet the domestic growing demand. The imported CIF price (Cost, Insurance and Freight) for palm oil has been declining since January 2025. The wholesale reference price declined to K6,110 per viss in the week ending 22 June from K7,280 in the first week of January. The Supervisory Committee on Edible Oil Import and Distribution under the Ministry of Commerce has been closely observing the FOB prices in Malaysia and Indonesia, adding transport costs, tariffs and banking services to decide the wholesale market reference rate for edible oil weekly. The committee issues reference prices weekly every Monday through the website www.doca.gov.mm of the Department of Consumer Affairs and the Facebook pages of the department and the Myanmar Edible Oil Dealers’ Association. Despite the reference price, the market price is way too high. To control overcharging, the Consumer Affairs Department under the Ministry of Commerce informed consumers of lodging complaints for overcharging through ...