Myanmar imports 294,457 tonnes of palm oil in almost six months of the 2023-2024 FY

Published Nov 24, 2023

Tridge summary

Myanmar has imported 28 percent more palm oil in the first six months of the current fiscal year compared to the same period last year, amounting to 294,457 tons worth $294.58 million. However, the value of imports decreased by 11 percent. The Ministry of Commerce is monitoring global palm oil prices and has set the basic wholesale reference price at 4,990 kyats per viss in Yangon, aiming to regulate domestic palm oil prices.

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Original content

A total of 294,457 tons of palm oil were imported in almost six months of the 2023-2024 FY, which is 28 percent more than the same period last year, according to the Ministry of Agriculture, Livestock and Irrigation. From April 1 to September 29 in 2023-2024 FY, 294,457 tonnes of palm oil worth US$294.58 million was imported and from April 1 to September 29 in 2022-2023 FY, Myanmar imported 229,264 tonnes of palm oil worth US$332.85 million. Comparing the two same periods, in almost six months of the current fiscal year, Myanmar imported 28 percent more than the same period last year, but the value decreased by 11 percent. According to the market and price trends in the world's palm oil producing and exporting countries, the basic wholesale price in Yangon this week has been set at 4,990 kyats per viss, according to the Ministry of Commerce. The Supervisory Committee on Import, Storage and Distribution of Edible Oil under the Ministry of Commerce is working to regulate the ...

Source: Elevenmyanmar