The wholesale reference price for palm oil in Yangon has decreased slightly this week, settling at 6,585 kyat per viss, down from last week’s rate of 6,610 kyat. The price is set weekly by the Supervisory Committee on Edible Oil Import and Distribution, which bases its calculations on international market prices from Malaysia and Indonesia, plus associated costs like transport and tariffs.
Despite this official reference rate, actual market prices for consumers remain significantly higher. In response, the Consumer Affairs Department is urging the public not to purchase overpriced oil and to report any instances of price gouging. Consumers can lodge complaints via the department’s hotline at 1535 or through its official Facebook page.
The committee has also issued a warning that anyone found hoarding oil or manipulating the market will face legal action under the Essential Goods and Services Law. Authorities are collaborating with importers and the Myanmar Oil Dealers’ Association to ensure a stable supply of affordable cooking oil.
Myanmar relies heavily on imports to meet its domestic demand, which is estimated at one million tonnes of palm oil per year. While local production provides approximately 400,000 tonnes, the remaining 700,000 tonnes are imported annually from Malaysia and Indonesia.
