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The wholesale reference rate of palm oil for the Yangon market moved slightly down this week ending 26 February compared to that of the previous week, according to the Supervisory Committee on edible oil import and distribution. The reference price stood at K4,490 per viss in the week from 13 to 19 February. For the week ending 26 February, the price was set higher at K4,470 per viss. The figures showed a small decrease of K20 per viss. The Supervisory Committee on edible oil import and distribution under the Ministry of Commerce has been closely observing the FOB prices in Malaysia and Indonesia including transport costs, tariffs and banking services, and issuing the wholesale market reference rate for edible oil every week.

Regardless of the reference price, the current market price is too high at over K6,000 per viss. If those edible oil retailers and wholesalers are found overcharging, storing inventory intentionally and attempting unscrupulous action to manipulate the market, they will face legal action under the Special Goods Tax Law, MoC released a statement. The Ministry of Commerce is striving for consumers not to worry over the supply of edible oil. The ministry is also trying to secure edible oil sufficiency, supervise the market to offer reasonable prices to the consumers and maintain price stability.

At present, mobile market trucks operated by oil importing companies, in coordination with Myanmar Edible Oil Dealers’ Association, were back to business in some townships on 17 July to offer palm oil at a subsidized rate. They sell palm oil at K4,650 per viss to consumers directly. However, there are limited sources of supply although they directly sell palm oil at a reference rate depending on the volume quota. The domestic consumption of edible oil is estimated at 1 million tonnes per year. The local cooking oil production is just about 400,000 tonnes. To meet the oil sufficiency in the domestic market, about 700,000 tonnes of cooking oil are yearly imported through Malaysia and Indonesia.

Source: The Global New Light of Myanmar

The Trade Department under the Ministry of Commerce will evaluate the Advanced Telegraphic Transfer (TT) system to be eased in export procedures. Truck drivers need to seek QR code-based Vehicle Pass permits beforehand on digital platforms starting from 11 February 2023 in order to export goods in border trade, the Trade Department notified. The Trade Department (head office) notified Muse-Namhkam Border Trade Chamber of Commerce to disseminate this information stating that once the QR code-based Vehicle Pass system achieves success, easing the TT system will be considered.

On 1 February 2023, the department launched an online system to issue vehicle passes intending to facilitate the exports of various pulses, corn, sesame and peanut in the border channel. Consequently, those truck drivers who have received vehicle passes digitally in advance are allowed to pass the border point. The drivers of those aforementioned goods are required to seek it ahead. This vehicle pass can be done on Myanmar Tradenet 2.0 portal. The applicants holding export licenses have to fill in the classification of the vehicle in the Vehicle Monitoring System.

After screening the application, QR code-based Vehicle Pass will be issued. For those goods which do not need export licences, they can directly seek vehicle passes. The trucks can pass the checkpoints with that QR code. Those drivers which fail to show the QR code are not entitled to leave. That system kicked off on a trial run between 1 and 10 February along Muse, Myawady and Chinshwehaw borders. There were no charges on it during the trial period. That system will be fully operational from 11 February. Each truck will be charged K5,000. For further information, people can dial the contact number of the Trade Department.

Source: The Global New Light of Myanmar

Driver-substitution system has been put an end at Kyinsankyawt checkpoint of Muse trade zone for Sino-Myanmar trade from 18 February 2023, said Sai Khin Maung of Khwarnyo Fruit Trading Centre.
Consequently, drivers are allowed to directly pass the border point with their own trucks, by holding a valid border pass. “Myanmar’s truck drivers were given the go-ahead to pass Kyinsankyawt road part from 18 February 2023. They must hold blue border pass documents. That being so, there is no longer short-haul driver service on China’s side,” Sai Khin Maung continued.

Earlier, China banned Myanmar trucks and drivers to enter its side owing to the COVID-19 protocols and only Chinese short-haul drivers have been allowed to transport the goods. Thereafter, Myanmar trucks have been given green light for border-crossing through the Kyinsankyawt-Wang Ding trade channel under the driver-substitution system starting from 16 May 2022. There was no responsibility and accountability if goods were damaged under the driver-substitution system. Therefore, Myanmar exporters choose short-haul driver services and bear high freight costs.

China shut down all the checkpoints linking to the Muse border amidst the COVID-19 pandemic. Of the checkpoints, Kyinsankyawt has resumed trading activity from 26 November 2021. Trade activity at the Muse-Mang Wein border, which performed the majority of trade between Myanmar and China, resumed on 14 January 2023. However, only six-wheel trucks driven by Myanmar drivers are allowed to pass the Mang Wein crossing. Other trucks and travellers are still not entitled to enter the border.

Additionally, other goods except for agricultural products (watermelon, muskmelon), minerals and fisheries products are allowed to be sent to China through that border. Meanwhile, China gives the go-ahead to the imports of construction goods, electrical appliances, medical devices, industrial equipment, consumer goods, household goods and food products only through that border. Myanmar has opened five border trade posts with China – Muse, Lweje, Kampaiti, Chinshwehaw and Kengtung. The majority of the trade is carried out through Muse post, Ministry of Commerce’s data indicated. 

Source: The Global New Light of Myanmar

Myanmar imported about 60,000 tonnes of fertilizer worth US$31.075 million in January 2023, according to the Ministry of Commerce. Myanmar imported over 40,000 tonnes from China, over 7,800 from Thailand, about 5,000 from the UAE, over 2,500 from the Republic of Korea, over 600 from the US, over 500 from Uzbekistan, over 400 from Viet Nam, about 400 tonnes from Japan, over 300 from Laos, 80 from Malaysia, over 10 each from India and Indonesia respectively by sea.

The export volume was down by over 43,000 tonnes compared to that recorded in December 2022. Meanwhile, the country imported over 8,600 tonnes of fertilizer worth $3.02 million through a cross-border channel last month, with about 4,500 tonnes from China, over 620 from Thailand and over 3,000 from India.

The prices of fertilizer moved in the range between K72,000-162,500 per 50-kilogramme bag depending on the brand (Myanma Awba, Thai Grow How, Pale, MPE and Thai Myinpyan) and types of fertilizer in the last week of January 2023. The prices remained unchanged in early February. Additionally, the prices of Malarmyaing brand Cypermethrin 10 per cent insecticide 100 cc and 500 cc were K3,100 and K13,800 per bottle.

Source: The Global New Light of Myanmar