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December 11, 2018
Issue 11 is available now!

NEWS
TRADING

Myanmar Petroleum Trade Association would not control fuel prices

Fuel prices in Myanmar have rocketed recently, but Myanmar Petroleum Trade Association (MPTA) would not control the fuel prices, according to Dr Win Myint, secretary of MPTA.

Changes in Myanmar’s fuel prices depend on the international fuel prices and dollar exchange rates, but association is selling fuel with suitable prices, according to Dr Win Myint. Petroleum businessmen have to compare the bank interest rate and profit before importing the fuel from abroad, and they are selling fuel with suitable price by comparing with global oil prices, he said.

Fuel prices in local market have increased over 12 percent in more than 2 months. In June, 1 liter of Octane 92 Ron was 870 Ks and it reached to 975 per 1 liter in September 11th, and premium diesel reached to 915 Ks per 1 liter.

Source: 7 Day News

EU’s CMP garment orders increase twofold

CMP garment orders placed by EU countries have doubled this year, said Daw Khaing Khaing Nwe, Secretary of Myanmar Garment Entrepreneurs Association.

Last year’s garment order amounted to around US$90 million. This year, the EU’s order reached around US$180 million. CMP garment sector will have good prospects if the relations between Myanmar and the EU countries remain unchanged, said Daw Khaing Khaing Nwe at the Myanmar-Korea Investment Seminar at Lotte Hotel in Yangon.

Most of garment factories are from South Korea, but most garments go to the EU market. During four months this year, CMP garment sector earned over US$1.4 billion, up US$704 million compared with the same period last year, according to the commerce ministry. Currently, Japan, South Korea and EU are importing CMP garments from Myanmar.

Source: Daily Eleven

No more sugar re-export licenses: Ministry of Commerce

The government will temporarily stop issuing sugar re-export licenses in anticipation of the local sugar cane season, according to a senior official from the Ministry of Commerce. Issuing of re-export licenses will continue until September 22, after which the government would no longer issue re-export licenses, according to the Directorate of Trade under Ministry of Commerce. But sugar industry players said the September 22 cutoff date is already late as there is an existing glut in the market. Sugar warehouses in Yangon, Mandalay and Muse have abundant stocks of the commodity, with an estimated surplus of 300,000 tonnes. The current price of sugar has fell to K660,000 per tonne compared with the K850,000 per tonne before sugar imported from foreign countries through the re-export system flooded the local market.

Source – Myanmar Times

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