Edible oil market: More than 16,000 tons sold at fair prices

In the fiscal year of 2022-2023, the Ministry of Commerce sold more than 16,000 tons of edible oil at fair prices in the regions and states. The Ministry of Commerce is trying to secure edible oil sufficiency, supervise the market to offer reasonable prices to the consumers and maintain price stability.

Han Win Kyaw, Director, Department of Consumer Affairs said "We have formed the supervisory committee on edible oil import and distribution, and offer the high quality edible oil at reasonable prices to the consumers. We have been announcing the basic wholesale prices of edible oil in the market via the state media.  In the fiscal year of 2022-2023, we directly sold over 16,000 tons of edible oil to consumers across the country via trucks and shops."

The domestic consumption of the edible oil is estimated at 1 million ton per year and the local edible oil production is about 400,000 tonnes. To meet the oil sufficiency in the local market, there are about 700,000 tons of edible oil yearly imported from Malaysia and Indonesia.