Only K20 difference per litre in retail reference price of diesel, octane 92

by ENERGY

On 8 February 2023, the retail reference price of diesel fuel was only K20 per litre higher than that of octane 92, according to the reference prices. The retail reference prices per litre of fuel on 8 February were only K2,155 for octane 92, K2,220 for octane 95, K2,175 for diesel and K2,255 for premium diesel. On 7 February 2023, octane 92 and diesel were traded at K2,075 and K2,185 per litre respectively. The gap between octane 92 and diesel in the retail reference price per litre was K110 on 7 February and declined to K20 on 8 February. In the fuel oil market, diesel prices tend to be higher than gasoline prices. Thus, the rental for diesel vehicles is higher than that for gasoline vehicles.

As most freight vehicles consume diesel rather than petrol, it is more convenient in transportation when the diesel price is only slightly higher than the petrol price, Ko Aung Zaw, a truck owner, told the GNLM.
Authorities make an announcement of fuel and edible oil reference prices based on foreign prices. The fuel oil price is announced daily and the price of edible oil is notified once a week. On 6 February, a barrel of octane 92 and diesel was priced at US$92.18 and US$105.71 respectively in the foreign market. The prices changed to $96.64 and $105.23 respectively on 7 February, according to the daily foreign fuel prices. In the foreign fuel market, the price of gasoline is rising and that of diesel is falling, Ko Aung Zaw added.

Starting from May 2015, the weekly prices of gasoline were announced in the State-owned newspapers, and it is known that diesel was cheaper than gasoline in those years. A barrel of diesel (50 gallons) in Yangon skyrocketed to around K300,000 in 2008. On 21 February 2009, the price dropped to K79,000. If we observe the domestic fuel price changes over the past decade and this year’s price changes, it can be seen that only diesel is mainly used in cargo transportation. This year, diesel is more expensive than petrol. However, due to the situation these days, the price difference has become less, and the number of truck operators is increasing. Compared with the end of August 2022, it is known that the price of diesel in this month has become cheaper by K1,000 per litre, around K5,000 per gallon and over K200,000 per 50-gallon barrel.

Source: The Global New Light of Myanmar

05-mr-mineral_trade_99-5_1308-ab

Myanmar pockets over US$235 mln in mineral exports in past ten months

by TRADING

Myanmar generated US$235.477 million from mineral exports between 1 April 2022 and end-January 2023 in the current financial year, according to the Ministry of Commerce.

During the April-January period, the public sector performed mineral exports valued at $23.43 million whereas the private sector saw mineral exports worth $212.04 million.

The export items are gems and jewellery, gold, jade, pearl, diamond, lead, tin, tungsten, silver, copper, zinc, charcoal and other minerals. Myanmar earned $564.457 million from mineral exports between April and 27 January in the last FY2021-2022. Myanmar targets to achieve exports worth $15.5 billion and imports worth $14 billion in the 2022-2023 FY, the National Planning Law stated.

Source: The Global New Light of Myanmar

trade-1_0_0

Truckers to get QR code-based Vehicle Pass in advance online

by TRADING

Truck drivers need to seek QR code-based Vehicle Pass permits beforehand on digital platforms in order to export goods in border trade, the Trade Department notified. The department launched an online system to issue vehicle passes with a view to facilitating 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 licences have to fill in the classification of the vehicle in the Vehicle Monitoring System (htpps://vehicle.myanmartradenet.com). 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 will start on a trial run between 1 and 10 February along Muse, Myawady and Chinshwehaw border. There will be no charges for it during the trial period. That system will be fully operational from 11 February. Each truck will be charged K5,000.

Source: The Global New Light of Myanmar

DSC_6108-sskm-1024x583

YGEA reference price dips as gold spot price falls

by ECONOMY

Yangon Region Gold Entrepreneurs Association’s reference price declined to K2,197,000 per tical (0.578 ounce or 0.016 kilogramme) tracking the decrease in gold spot prices. As the gold price rallied to $1,955 in the international market, the reference price increased to K2,303,200 per tical on 2 February. On 4 February, the price moved down to K2,197,200 per tical following the spot price dipping to $1,865 per ounce. The figures indicated an increase of $90 per ounce and over K100,000 per tical within two days.

Despite the YGEA’s reference price, the pure gold spiked at K2,830,000 per tical in the unofficial market, showing a large gap of over K600,000 per tical. YGEA calculated the price depending on the Central Bank of Myanmar’s reference exchange rate of K2,100, with some addition, while the US dollar is exchanged at K2,860 in the unofficial forex market. The price of gold in the domestic market is highly correlated with the gold spot prices and dollar exchange rate.

The soaring dollar exchanging at over K4,500 drove the pure gold price up to a record-high of K3.7 million per tical in late August 2022. For the gold price to decline, the Ministry of Natural Resources and Environmental Conservation has been selling gold ingots in Yangon, Mandalay and Nay Pyi Taw under the auction system. With an aim at reducing gold prices, the YGEA and Mandalay Region Gold Entrepreneurs Association sold gold bullion supplied by the executive members and the members as well.

Source: The Global New Light of Myanmar

chinagas

Myanmar exports $1.43 bln worth of natural gas to China in 2022

by TRADING

Myanmar’s natural gas export to China pocketed US$1.43 billion in 2022. Myanmar is listed among China’s largest gas importers. It ranked third after Turkmenistan and Russia. Natural gas extracted from the Shwe natural gas field located offshore from Rakhine State is exported to China through the cross-border Myanmar-China gas pipeline.

Approximately 12 billion cubic meters of natural gas are yearly exported to China through that pipe which was constructed with an estimated cost of $1 billion. The pipeline connects Rakhine, Magway, Mandalay, and Shan State to Yunnan Province, China. Furthermore, a 771-kilometre-long crude oil pipeline was constructed with the use of $1.5 billion.

It was designated to send 22 million tonnes of crude oil per year. South-East Asia Gas Pipeline Company Limited (SEAGP) is responsible for the operation of the Myanmar-China Gas Pipeline, while South East Asia Crude Oil Pipeline Company is in charge of the crude oil pipeline. Myanmar Oil and Gas Enterprise (MOGE) owns 7.36 per cent of shares in the gas pipeline project, whereas it holds 49.1 per cent of shares in crude oil pipeline projects.

Source: The Global New Light of Myanmar

download (2)

Myanmar’s fruit trucks delayed amid China’s border trade system being advanced

by TRADING

Traders based at the China-Myanmar border said that since China is adjusting the level 2 for border trade, it has not reached the fruit sales field from Myanmar yet. According to a border-based trader, the customs system is also being updated on the Chinese side, and it is not yet known what will happen in the new system.

Trade is expected to improve after the Chinese New Year period, but prices have fallen slightly as fruits from Viet Nam and Laos have started entering the Chinese market, according to border reports. The 855 melons are priced at 3.6 yuan per kilogramme, Tangwan fruit is 3.6 yuan, and sweet melons are priced at 5 yuan per kilogramme. On 1 February 2023, 54 cars entered the Chinese fruit market.

China is starting to install a new system for border trade, and traders say it is still unclear what will happen. When the Chinese market just opened, melons and cucumbers from Myanmar fetched good prices, but after the price dropped due to the export of low-quality fruits, they are hoping to get good prices again after the New Year period. 

Source: The Global New Light of Myanmar

51 cargo ships slated to arrive at Yangon Port this month

by LOGISTICS

A total of 51 cargo ships carrying many containers are scheduled to enter Yangon Port in February 2023, according to Myanmar Port Authority. This month, nine cargo ships run by New Golden Sea (COSCO), another nine by Sealand Maersk Asia, four by MSC Line, three each by PIL Line, R.C.L Line, Samudra Shipping Line, SITC and TI2 Container Line, two each by BLPL Shipping Line, Ever Green Line, X-Press Feeder and RCL Line and one each by Bay Line, CMA CGM Line, Gold Star Line, IAL Line, Land & Sea and MTT Shipping  Line will enter Yangon Port.

Yangon Port saw the entry of 52 cargo ships in January 2023. Yangon Port handled a total of 620 cargo ships this year, according to Myanmar Port Authority. The number of cargo ships entering Yangon Port stands at 49 in January, 48 in February, 50 in March, 52 in April, 54 in May, 53 in June, 49 in July, 55 each in August and September, 50 in October, 51 in November and 54 in December 2022 respectively. From May 2021, the arrival of ships at terminals in Yangon has increased again.

To fulfil the seaborne trade requirements, three new cargo ships by Maersk Line Myanmar (Sea Land Maersk) started to run in 2021. Myanmar Port Authorities and Yangon inner terminals are providing services to ensure the fast and reliable cargo handling and withdrawal of the containers. Earlier, the larger ships had draft problems preventing their sailing on the Yangon River. The draft extension is up to 10 meters with the new navigation channel accessing the inner Yangon River and the international ocean liners can access the inner port at present.

Source: The Global New Light of Myanmar

b8c425a1-1e21-4861-9898-f2916a3c0106

Myanmar-China trade volume exceeds US$2 bln from April 2022 to half of Jan 2023

by TRADING

The trade volume between Myanmar and China reached up to US$2159.412 million between April 2022 and half of January 2023 in the financial year 2022-2023, according to the Ministry of Commerce. The export value was $1801.501 million and the import value was $357.911 million.

Myanmar conducts cross-border trade with China through such border posts as Muse, Lweje, Chinshwehaw, Kampaiti, and Kengtung and the trade volume through the Muse border alone amounted to 90 per cent of the total.

Between April 2022 and half of January 2023, Myanmar’s trade through Muse was valued at $1762.051 million. The trade values were registered at $105.735 million on the Lweje border and $215.603 million in Chinshwehaw. The Kampaiti border earned worth $66.416 million and the Kengtung border witnessed trade worth $9.607 million.

Source: The Global New Light of Myanmar

thumbs_b_c_562d6bee393393c657a0cf654fe104aa

Republic of the Union of Myanmar
Announcement of Central Committee on Prevention, Control and
Treatment of Coronavirus Disease 2019 (COVID-19)

by COVID

11th Waxing of Tabodwe, 1384 ME
31 January 2023

As it is necessary to continuously control infection of the Coronavirus Disease 2019 (COVID-19), it is hereby announced that public requests, orders, notifications and directives (except for easing the restrictions) released by the Union-level organizations and Union ministries up to 31 January 2023 have been extended until 28 February 2023 for prevention, control and treatment of Coronavirus Disease 2019 (COVID-19).

Source: The Global New Light of Myanmar

goods-at-port

Myanmar ships US$680 mln worth of 1.8 mln tonnes of rice in ten months

by TRADING

Myanmar has conveyed over 1.8 million tonnes of rice and broken rice at an estimated value of US$680 million between 1 April 2022 and 25 January 2023, according to Myanmar Rice Federation (MRF).

The export values were recorded at $82 million from 250,947 tonnes in April 2022, $51 million from 153,507 tonnes in May, $50 million from 146,094 tonnes in June, $66 million from 182,550 tonnes in July, $53 million from 156,893 tonnes in August, $37 million from 93,792 tonnes in September, $65 million from 163,189 tonnes in October, $106 million from 264,038 tonnes, $90 million from 228,445 tonnes in December and $79 million from 196,700 tonnes in January 2023, totalling $679 million from 1,836,154 tonnes in ten months in the current financial year 2022-2023.

The export volume hit the lowest in September and the highest in November. Myanmar has been exerting concerted efforts to grow 10 per cent yearly in the rice export sector. To raise foreign income, it has been prioritizing the exportation of high-grade rice and boosting export volume, MRF stated. Myanmar bagged over $700 million from approximately 2 million tonnes of rice export in the 2020-2021FY.

Source: The Global New Light of Myanmar