Domestic fuel price heading back amid global oil price dip

by ENERGY

The prices of fuel oil have fallen back slightly in the domestic market following the dip in global oil prices.
On 22 June, the prices stood at K2,275 for Octane 92, K2,375 for Octane 95, K2,690 for diesel and K2,720 for premium diesel, whereas the prices declined to K2,135 for Octane 92, K2,225 for Octane 95, K2,410 for diesel and K2,435 for premium diesel on 1 July. There is a gap of K140-285 per litre within ten days, according to the local fuel oil market. A supervisory committee on oil import, storage and distribution of fuel oil is governing the fuel oil storage and distribution sector effectively and ensures price stability for energy consumers.

Additionally, the department, under the guidance of the committee, is issuing the daily reference rate for oil to offer a reasonable price to energy consumers. The reference rate in Yangon Region is set on the MOPS’ price assessment, shipping cost, premium insurance, tax, other general cost and health profit per cent. The rates for regions and states other than Yangon are evaluated after adding the transportation cost and the reference rates daily covered on the state-run newspapers and are posted on the media and official website and Facebook page of the department on a daily basis starting from 4 May. As per the statement, 90 per cent of fuel oil in Myanmar is imported, while the remaining 10 per cent is produced locally. The domestic fuel price is highly correlated with international prices.

The State is steering the market to mitigate the loss between the importers, sellers and energy consumers. Consequently, the government is trying to distribute the oil at a reasonable price compared to those of regional countries. Some countries levied higher tax rates and hiked oil prices compared to Myanmar. However, Malaysia’s oil sector receives government subsidies and the prices are about 60 per cent cheaper than that of Myanmar. Every country lays down different patterns of policy to fix the oil prices. Myanmar also poses only a lower tax rate on fuel oil and strives for energy consumers to buy the oil at a cheaper rate. Moreover, the government set the official exchange rate at K1,850 to stabilize the FX market, keep the balance between exports and imports and mitigate foreign currency risk.

For the oil sector, the committee is implementing to import the oil promptly depending on the actual requirement in the domestic market. The committee is also carrying out to generate revenue for the State, scrutinize import licences, submit a request to purchase foreign currency, monitor the oil storage and distribution activities, control quality and make traceability records for price manipulation, overcharging and identifying abnormal conditions in handling oil to take actions against those unscrupulous traders. People can file any complaints about services at petrol stations through contact numbers (067-409881, 067-411129, 09-699611116, 09-440433533). Upon the complaints, a surprise check, assessment, discussion and taking actions are conducted. The PPRD is also tackling the matters requested by the oil-importing companies, according to the statement. 

Source: The Global New Light of Myanmar

Bangkok-Yangon airlines resume their direct flights

by HOTEL & TOURISM

Bangkok-Yangon flights such as Thai Air Asia, Thai Smile and Nok Air airlines resumed direct flights at Yangon International Airport on 1 July for convenient aviation transport between the two countries, according to the Yangon Aerodrome Company Limited (YACL). The first flight FD-252 by Thai Air Asia arrived at Yangon International Airport from Bangkok at 8 am yesterday.

The three direct flights will be operated weekly on Monday, Friday and Sunday depending on the number of passengers. “The Yangon International Airport is coordinating with relevant ministries to ease the Covid-19 restrictions and to welcome more airlines soon. The resumption of airlines would enhance domestic tourism, domestic airlines and the economy of the State,” said Capt Kyaw Soe Hla of the Myanmar Airways International.

India, China, Singapore and some other airlines have already resumed their operations at Yangon International Airport. In addition, Malaysia, Japan and Korean Airlines will reoperate their flights in the near future. Due to the COVID-19 pandemic, flights were suspended at Yangon International Airport on 29 March 2020. International flights were resumed on 17 April 2022 after declining COVID-19 infections in Myanmar.

Source: The Global New Light of Myanmar

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Agricultural export value tops $961.47 mln as of 17 June

by TRADING

The value of agricultural exports amounted to US$961.47 million between 1 April and 17 June in the current financial year 2022-2023, indicating a small increase of $25 million as against the year-ago period. The figure stopped $936.366 million in the corresponding period last year. Myanmar agricultural products are exported to China, Thailand, Singapore, Malaysia, the Philippines, Bangladesh, India and countries in Europe and African countries.

The country shipped rice, corns, chilli pepper, rubber, mango, various beans and pulses to the external markets through border posts and sea trade. 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 on a trial run. The country requires specific export plans for each agricultural product, as they are currently exported to external markets based upon supply and demand.

The G-to-G pact also ensures a strong market for the farmers. Contract farming systems, involvement of regional and state agriculture departments, exporters, traders, and some grower groups, are required to meet production targets, the Agriculture Department stated. The Commerce Ministry is endeavouring to help farmers deal with challenges such as high input costs, procurement of pedigree seeds, high cultivation costs, and erratic weather conditions. The agricultural exports were valued at $2.4 billion in the past mini-budget period (October 2021-March 2022).

Source: The Global New Light of Myanmar

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People to be vaccinated against COVID-19 at Yangon General Hospital every Wednesday

by COVID

The Yangon General Hospital announced on 29 June that they will vaccinate the people against COVID-19 at the special outpatient department every Wednesday. The service hours will be from 9 am to 12 noon on Wednesday.

They will vaccinate the people over the age of 18 against COVID-19 and booster shots for the people over 40 who received second shots six months ago. Officials arrange an online booking system for the vaccination programme.

The government used the Indian-made Covishield, China-made Sinopharm and Sinovac and Russia’s Sputnik light starting in January 2021. Myanmar has vaccinated over 29.84 million people over 18 and 5.35 million people under 18 against COVID-19 as of 25 June, according to the Ministry of Health.

Source: The Global New Light of Myanmar

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YRIC endorses 3 domestic, 3 foreign CMP manufacturing projects with 3,373 job opportunities

by INVESTMENT

The Yangon Region Investment Committee (YRIC) endorsed three domestic and three foreign enterprises in the manufacturing sector, with an estimated capital of over K4.44 billion and US$6.659 million at a meeting held on 29 June at the YRIC office in Yankin Township.

Those six projects will execute the production of synthetic hairs, and manufacturing of brassiere, underwear and clothes on a Cutting, Making and Packing (CMP) basis. They will create 3,373 jobs for the residents. Yangon Region Chief Minister U Soe Thein, in his capacity as chair of YIRC, attended the meeting with other committee members. The regional chief minister gave a remark as well. Then, 13 companies also submitted general reports and YRIC’s chairman and the committee members coordinated the matters.

The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in the production of pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis. To date, foreign investments from China, Singapore, Japan, Hong Kong, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands and Seychelles are arriving in the region. To simplify the verification of investment projects, the Myanmar Investment Law allows the region and state Investment Committees to grant permissions for local and foreign proposals, where the initial investment does not exceed K6 billion, or $5 million. 

Source: The Global New Light of Myanmar

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

by COVID

2nd Waxing of Waso 1384 ME
29 June 2022

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 30 June
2022 have been extended until 31 July 2022 for prevention, control and treatment of Coronavirus
Disease 2019 (COVID-19).

Source: The Global New Light of Myanmar

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Myanmar exports rice and its products to Europe, Africa

by TRADING

Myanmar’s agricultural products such as rice and rice-related products are exported by bulk carriers yearly. This year, the products will be exported to Europe and African countries from seven jetties at the Sule port terminal. A total of five vessels – two measuring 183 metres in length, two with 186 metres in length and one 200-metre-long ship will carry 143,400 tonnes of rice to Belgium, Spain and Togo.

Among these five vessels, three will lead to Belgium while one to Spain and another one to Togo. The country exports about 200,000 tonnes of rice per month and expects to ship two million metric tons this financial year, according to the Myanmar Rice Federation. The federation will work together with government and partner organizations in solving difficulties in the export sector.

The high-grade rice is mainly exported to the Europe market, China, some ASEAN countries and Bangladesh. Myanmar’s agriculture products, rice, broken rice and brans are exported to Europe and African countries by bulk carriers and the country exported 1,357,202 tonnes of rice by 90 vessels between April 2021 and March 2022 while 582,330 tonnes by 27 vessels in three months from April to June 2022.

Source: The Global New Light of Myanmar

Kyaukpyu Combined Cycle Power Plant Project to be completed in 2023

by CONSTRUCTION

The Kyaukpyu combined cycle power plant project with a capacity of 135 mW will be completed in May
2023, according to the Kyaukpyu District Electric Power Generation Enterprise. The project was started near the Gangawdaw Pagoda in Kyaukpyu Township in 2020 and is 81 per cent completed to date.

The power plant will be installed with the German-made SGT-800 Gas Turbine in Myanmar, the first of its kind in Myanmar. When the power plant operates, it will generate 135 megawatts of electricity at a rate of 8.59 cents per unit. During the 25 years of operation of the plant, engineers from the Electric Power Generation Enterprise (EPGE) will be assigned to the plant and handed over the operational maintenance technology.

The Ministry of Electric Power and for Energy conducts maintenance works on No (4) Fertilizer Factory (Myaungtaga) and No (5) Fertilizer Factory (Kangyidaunt) every April to meet the power needs of people. Currently, the Kyaukpyu 45 megawatts gas-fuelled power plant of V Power Group Holdings Limited and Kyaukpyu 150 mW gas-fired power plant of CNTIC V Power KY-3 Limited is generating power in Kyaukpyu township. The 135 mW Kyaukpyu combined cycle power plant project of the Kyaukpyu Electric Power Company Limited is being implemented to generate more electricity in coming years.

Source: The Global New Light of Myanmar

MAI to resume Incheon-Yangon-Incheon flights 3 days per week

by HOTEL & TOURISM

Myanmar Airways International (MAI) has announced that Incheon-Yangon-Incheon flights will resume three days per week starting from 6 July. Currently, Korean Air is operating the Yangon-Incheon flight. After the suspension for over two years, Korean Air (KE) resumed flying.

At present, both Korean Air and MAI are selling the tickets for the Yangon-Incheon flight to be resumed on 6 July. The flights will fly weekly on Tuesday, Friday and Sunday.

In addition, Nok Air will also resume Yangon-Bangkok flights on 1 July and will fly every Monday, Wednesday, Friday, and Sunday. Myanmar National Airlines (MNA) is also operating regular flights to Singapore, Bangkok and Kuala Lumpur. MAI flies to Kuala Lumpur, Bangkok, Tokyo, Singapore, Seoul, Guangzhou, Dubai, Phnom Penh, Kolkata and Delhi on scheduled dates.

Source: The Global New Light of Myanmar

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Seeds, fertilizers to be available at reasonable rates

by TRADING

The Myanmar Paddy Producers Association will reportedly strive for the farmers to get seeds and fertilizers at a reasonable rate. The association will contact the farmers to the importer companies so that they can buy the seeds and fertilizers at a cheaper rate than the prevailing market price in the monsoon season. Those enthusiastic buyers can directly contact the Myanmar Paddy Producers Association or through the region and state association branches within two days starting from 21 June. Only an immediate payment method is accepted for now.

The prices of seeds stand at K11,500 per basket of Sinthuka seed and Byautthuka seed, K12,000 for Pakan paddy seed, K6,000 per 1 kg-bag of New Aya seed, K23,000 per 21 kg-bag of Aya Min seeds, K18,000 per 21 kg-bag of Sinthuka seed and K19,000 per 21 kg-bag of Hnankauktun. Urea fertilizer is imported from Indonesia and Iran and it is priced at K83,500 per bag. Those interested can buy them through the contact number of UMFCCI (01 2314841, 09 5029755, 09 401326717, 09 799293818) and email: mppa. org.mm@gmail.com.

On 16 June, the Urea Fertilizer Purchase and Distribution Committee also sold about 75,000 tonnes of urea fertilizer at a fair rate. Those fertilizers are imported with the foreign currency that was sold by the Central Bank of Myanmar. This scheme started on 11 June and urea fertilizers were distributed to the 291 retail shops in 136 townships across 11 regions and states, with an immediate payment service. However, the prices differ in regions and states after adding the transport charges.

The prices of urea fertilizer per 50- kg bag were K86,000 in Yangon warehouse, K87,800 in Bago city, K88,600 in Pyay, K88,600 in Mandalay Region, K89,000 in Magway Region, K89,100 in Salin/ Pwintbyu area, K88,800 in Thaton and Mawlamyine cities, K89,500 in Monywa, K89,800 in YeU and Shwebo areas in Sagaing Region, K88,000 in Thongwa, K86,500 in Htantabin, Yangon Region, K92,600 in Sittway and K99,400 in Maungtaw, Rakhine State, K88,800 in Hpa-an and K89,300 in Hlaingbwe, Kayin State, K88,200 in Pathein and K88,100 in Hinthada, Ayeyawady Region, K96,000 in Kengtung and K100,800 in Mongton in the eastern Shan State, K92,000 in Lashio and K90,100 in Kyaukme in the northern Shan State and K89,500 in Taunggyi, K88,800 in Kalaw and K92,000 in Mongpan in the southern Shan State.

The farmers can take out purchase certificates free of charge from the agriculture management team in the respective village-tract. They can buy the urea fertilizer at the reference rate issued by the committee at the respective shops in each township. If they find it hard to buy them at the reference rate at the respective shops or they face any difficulty in purchasing them, they can contact the Ministry of Cooperatives and Rural Development via 067 410035, the Cooperative Department via 067 410040 and the Rural Development Department via 067 418621 and township-level Urea Fertilizer Purchase and Distribution Committees in the regions and states. The committee, in cooperation with a consortium comprising fertilizer, seeds and mineral nutrient businesspersons and member companies and Myanmar Rice Federation, is providing service for the farmers to buy the quality urea fertilizer at a cheaper price than the current market price.

Source: The Global New Light of Myanmar