Posts in category: TRADING

In accordance with the trademark law, the fees to be paid according to the types of service related to the trademark registration application were published on 1 April. According to sub-section (j) of Section 8 of the Trademark Law, the fees to be paid for the type of service in connection with the application for trademark registration in line with the agreement of the Union Government are: K150,000 for the examination of acceptance of trademark registration application (TM-1), K100,000 for the review of reinstatement of an application due to failure of prescribed rules (TM-3) and K50,000 for the amendment of request for correction of error in an application (TM-4).

In addition, K50,000 for the request to limit the list of goods/services in an application (TM-6), K100,000 for the request to divide an application for registration (TM-7), K150,000 for the application to oppose a trademark application (TM-8), K50,000 for the request for certified copy of registration certificate (TM-9), and K50,000 for the request for amendment of registration of a trademark (TM-10), will be charged.

Furthermore, K300,000 for the application for renewal of trademark registration (TM-11), K100,000 for the application to register a transfer of ownership (TM-12), K100,000 for the application to register a licence of trademark (TM-13), K150,000 for the application for invalidation of a registered trademark (TM-15), K100,000 for the application for cancellation of a registered trademark (TM-16), K20,000 for the request for change of representative or agent (TM-17), K50,000 for the request for extension of time (TM-18), and K500,000 for the application for appeal (TM-19) must be paid. It is announced that the fees for the types of services related to trademark registration applications will be revised and published from time to time. 

Source: The Global New Light of Myanmar

Myanmar’s trade gap widened to over US$754 million between 1 April and 17 March of the current financial year 2022-2023 compared to the year-ago period. Higher exports and lower imports resulted in a trade surplus of $524 million in the corresponding period of the 2021-2022 FY, according to data provided by the Ministry of Commerce. While exports were estimated at $15.95 billion, imports were valued relatively low at $16.7 billion over the past 11 and half months. Compared to the FY 2021-2022, exports showed an increase of over $1.368 billion, while import value was up by $2.647 billion. 

Myanmar aimed to achieve an export target of $15.5 billion and an import target of $14 billion for the 2022-2023 FY, totalling U$29.5 billion, according to the 2022-2023 Financial Year Budget. Myanmar’s external trade this year amounted to $32.659 billion as of 17 March this FY, which soared from $28.642 billion. The figures indicated a sharp rise of over $4 billion compared to the year-ago period. Myanmar’s maritime trade value edged up to $24.48 billion this FY from $21.359 billion recorded in the same period last year.

Similarly, the country witnessed an increase of $894.75 million in border trade as the cross-border posts with the main trade partner China was reopened. Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods. The country’s export sector relies more on the agricultural and manufacturing sectors. The Ministry of Commerce is trying to reduce the trade deficit by screening luxury import items and boosting exports. The country mainly imports essential goods, construction materials, capital goods, hygienic materials and supporting products for export promotion and import substitution. 

Source: The Global New Light of Myanmar

The prices of palm oil have fallen unexpectedly during the two weeks before the Thingyan holidays (Myanmar New Year Festival), said edible oil sellers. The delivery order prices were K6,400-6,500 per viss on 27 March in the Yangon market, decreasing from K6,600-6,700 per viss recorded on 24 March. The majority of the sellers purchased palm oil at above K7,000 per viss. They are making losses due to the decrease in market price. Before the Thingyan holidays, approximately 20,000-30,000 tonnes of palm oil are expected to be brought into the country.

Demand outstrips supply. There were only 10 days remaining to sell them to customers from regions outside Yangon. Malaysian palm oil price is around 3,504 ringgit per tonne. The international oil price was still low at US$930 per tonne on 24 March. The price decline is attributed to the large volume of supply although the holidays are approaching. However, the DO price is still K2,000 higher than the wholesale reference price for Yangon.

The mobile market scheme has been carried out in the respective townships over months. The sellers stored the stocks at a high price yet the price moved down. The traders who send the oil to regions outside Yangon pointed out that it is hard to guess the price fluctuation in the domestic market. In the last week of December 2022, the price difference between the reference price and the market price was only K800 per viss. In early March, the difference widened to K2,000 per viss. Some vendors still generate profit from it. 

Source: The Global New Light of Myanmar

Seeking import licence for all types of goods including ones stored under customs warehousing before the goods arrive at the port is obligatory, according to the notification released by the Trade Department under the Ministry of Commerce. The department apprised the importers of the rules and regulations for imports that need import licences as per the Export/Import Notification 7/2023 dated 22 March.

Earlier, the Trade Department under the Ministry of Commerce released Notification 50/2020 stating that all import items except goods stored in the Customs warehouse that need import licences were not allowed to arrive at the port before the port arrival processing permit to comply with the customs regulation stipulated in Notification 68/2019 of the Ministry Planning and Finance.

Additionally, importers were notified to face legal actions in line with the Export and Import Law if early arrival of the goods without import licence or permit of the departments concerned was found, as per export/import news letter 6/2022. Therefore, an import licence is required for all items including goods to be stored at the Customs warehouse before arrival, intending to steer trading activities and maintain the quality of the goods due to failure to claim the goods from the Customs bonded warehouse for a long period. Thus, the statements in Notification 50/2020 will cease to be in effect for six months from 1 April 2023 and suspension might extend, if necessary, the Trade Department notified.

Source: The Global New Light of Myanmar

The wholesale reference rate of palm oil for the Yangon market slid again this week ending 27 March compared to that of the previous week, according to the Supervisory Committee on edible oil import and distribution. The reference price stood at K4,635 per viss in the week from 13 to 19 March. For the week ending 27 March, the price was set slightly lower at K4,570 per viss, showing a small decrease of K65 per viss this week.

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 K6,000-7,000 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 Essential Supplies and Service Act, 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 in order to offer palm oil at a subsidized rate. They offer palm oil at a fairer price to the consumers directly depending on the reference price. 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 Road Transportation Administration Department has announced that it will issue Yangon licences to electric vehicles (EVs) imported for surrendering old cars with Yangon licences.

RTAD will register EVs under the existing laws, regulations, orders and directives. Some of the first-batch EV cars are used as taxis in Yangon Region and Nay Pyi Taw. As a pilot project, some domestic vehicle-importing companies are allowed to import 3,000 EVs without having to pay duties and taxes.

The construction of EV charging stations is underway in Yangon, Nay Pyi Taw, Mandalay and along the Yangon-Mandalay Expressway, and is slated to be completed by the end of March.

Source: The Global New Light of Myanmar

Myanmar’s cross-border trade with neighbouring Thailand through Tachilek and Kawthoung points was estimated at US$32.549 million, the Ministry of Commerce’s statistics indicated. Last month, the trade value through the Tachilek border totalled $12.573 million, including exports worth $6.268 million and imports valued at $6.305 million.

Tachilek border achieved 83.82 per cent of the trade target. The figures showed a decrease of $1.282 million in exports and an increase of $0.653 million compared to those registered in the corresponding period last year.

The border trade through the Kawthoung checkpoint amounted to $19.976 million in February, with exports worth $17.537 million and imports worth $2.439 million. The trade value was down by $9.003 million from the year-ago period. Myanmar saw a rise of $5.785 million in the Tachilek border last month from January, whereas the border trade was up by $1.566 million from January. 

Source: The Global New Light of Myanmar

Yangon’s edible oil market has seen two different prices since some news reports that there was no more oil in the oil tank and that people had to buy edible oil at the price of K6,600 per viss from oil hoarders came out in the market. The wholesale price of edible oil was K7,000 per viss at the shops on 9 March while some wholesalers sold at K6,050 per viss to regular customers. Even though the relevant authorities announce the reference wholesale price of palm oil weekly, the wholesale price was more than K2,000 higher than the reference wholesale price from mid-February to the beginning of March.

On 10 March, the palm oil was sold at K6,050 per viss at the Nyaungpinlay market and K6,400 per viss at the Bayintnaung market, a buyer said. An oil trader said that the wholesale price of oil at the Bayintnaung market went up to K6,800 per viss on 11 March. The demand for palm oil is weak this week due to consumers who bought palm oil at a price of more than K7,000 per viss. Therefore, it is known that the price has not been increased yet. The palm oil price was cheap in some regions while it was high in Yangon.

The price of palm oil including the delivery fee to the store was just K6,400 per viss in some regions on 7 March and K6,350 per viss on 8 March, a grocery seller, Ma Than Myint told the Global New Light of Myanmar (GNLM). On 8 March, 10,326 tonnes of oil entered the Thilawa port and 5,500 tonnes of oil entered the Hteedan port in Kyimyindine Township. According to the information that the wholesale price will drop from over K7,000 to K6,000 per viss, the palm oil was sold at K6,050 per viss in the Yangon oil market. However, it is reported that only a few outlets sell at the above price.

Source: The Global New Light of Myanmar

Myanmar aims to deliver 100,000 tonnes of onions to external markets in the 2023-2024 financial year, according to the Ministry of Commerce. The country has planned to ship 300,000 tonnes of onions during the April-June period, 15,000 tonnes during the July-September period, 20,000 tonnes during October and December 2023 and 35,000 tonnes during January-March 2024 period to external markets. The onion output is estimated at over 1 million tonnes per year. Beyond self-sufficiency, the onions are exported to foreign countries.

More than 80,000 tonnes have been shipped to global markets so far. Myanmar’s onions are purchased from Viet Nam, Thailand, Bangladesh and China. The supply of new onions in the markets brings down the prices. The onion prices moved in the range between K1,000 and K1,750 per viss depending on the producing areas (Seikphyu and Myittha), according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Depot). On 14 February, the Union Minister for Commerce gave a remark at the coordination meeting on the promotion of onion exports and price stability in the domestic market.

There are over 170,000 acres of onions across the country, with an estimated production of 1 million tonnes. He also talked about promoting interest for the growers, having fair prices for the consumers and boosting exports in harmony with domestic consumption. Officials from Myanmar Onion, Garlic and Culinary Crop Producers and Exporters Association also discussed the export barriers and export conditions through the seaborne and land borders and called for the government’s support for market expansion.

Additionally, to effectuate sustainable development in the onion export sector, government-to-government pacts to the potential markets including the Philippines, getting easy and quick access to the phytosanitary certificates, raising awareness of Good Agricultural Practices (GAP) among the growers, promoting onion exports and domestic market stability were also highlighted at the meeting. According to the Ministry of Agriculture, Livestock and Irrigation’s 2018-2019 FY statistics, onion cultivation covered over 170,000 acres. The yield rate was over 3,600 viss per acre. Mandalay Region accounts for 36 per cent of onion outputs in the country, while Sagaing Region, 32 per cent and Magway Region, 26 per cent. 

Source: The Global New Light of Myanmar