Price of domestic palm oil rose slightly

January 02, 2023

 

On 31 December, the last day of 2022, the wholesale Delivery Order-DO price of palm oil had a slight rise of K5,200 per viss, according to the Yangon Edible Oil Market. The wholesale price of palm oil from Thilawa tank went down to K5,050-K5,100 per viss on 26 December.
In the Yangon oil market, the DO price of K5,150/5,200 per viss had been at a low price for around 10 days. The wholesale price of palm oil was K4,415 per viss on 24 December while the DO price was K5,150 per viss. The DO price was K735 per viss higher than the reference price.
On 31 December, the reference price stood at K4,360 per viss while the DO price got K5,200 per viss, indicating the price difference of K840 per viss. From 26 December to 1 January, the external palm oil price was valued at US$994 per tonne with the average exchange rate K2,478. The basic price per viss was K4,276 and the wholesale reference price was K4,360 per viss.
The imported palm oil was rated at US$1,006 per tonne in previous week. However, its price decreased by US$12 per tonne this week, according to the relevant price information.
Malaysian palm oil price increased from 3,829 ringgit per tonne on 24 December to 4,176 Ringgit per tonne on 30 December, according to the Malaysian palm oil market prices. On 30 December, the price rose to 4,255 Ringgit and then fell back to 4,176 Ringgit.
The palm oil is being sold at the retail reference price K4,600 per viss via mobile market truck in the Yangon region on 31 December. The price was K600 per viss cheaper than DO wholesale price, Ma Khaing, a resident in Hlainethaya Township, who bought it at the mobile oil market, told the GNLM.—TWA/CT