Edible Oil Sector: MOC Union Minister attends coordination meeting

Union Minister for Commerce U Chit Swe attended a coordination meeting on storing and distributing edible oil which was held at the Ministry on 8th January.

In his opening speech, the Union Minister stated that edible oil is being imported in accordance with the domestic usage and production requirements. By reducing the unnecessary costs and as foreign CIF prices have declined, edible oil prices have also decreased about 560 kyats per viss starting the fourth week of September till December.

He also added that investigations are being made in some townships where edible oil is being sold at a higher price through unfair means. Then, Deputy Minister U Min Min made clarifications regarding the importing, storing and distributing of edible oil and to follow the SOPs, reporting the actual situation on the ground by the edible oil sector support groups, such as the Oil Tank Supervision Working Group and the Monitoring and Research Group, sharing relevant information to the public through media and to conduct field inspections to the regions and states. Attendees later made discussions on future plans on which the Union Minister coordinated the needs.