Oil prices are expected to fall below 6,000 kyat despite the falling palm oil prices in Myanmar

Oil traders say palm oil prices could not fall below 6,000 kyat as the Thingyan festival approaches despite the influx of palm oil. Domestic palm oil prices have been falling since last week due to falling palm oil prices in importing countries. The Oil Traders Association announced that from March 21 to 27, the wholesale reference price will be 5,660 to 6,375 kyats. As of today, March 25, the wholesale price is trading at 6,300 to 6,500 per pound. As of March 22, the oil traders' association has been selling oil at 6,700 kyats per pound, and currently it is selling at 5,800 kyats per pound. Falling peanut rice prices; Peanut oil prices fell as well as sesame oil prices fell due to falling oil prices. Peanut oil has dropped by about 1,000 per pound, and the wholesale price is currently between 7,500 and 8,000 per pound. The price of sesame oil is between 7,000 and 7,500 per pound. ...