With suitable actions against surges in the palm oil price, the price has gone down again, says Senior General Min Aung Hlaing, Chairman of State Administration Council (SAC).

The Senior General met with departmental officials, town elders and MSME businesspersons at the city hall in Lashio Township, Northern Shan State on September 9.

The Senior General highlighted that as domestic manufacturing industries based on agriculture and livestock farms are being encouraged to raise the GDP of the State, the government helps boom MSME businesses. On the other hand, he continued that it is necessary to decline commodity prices and adjust consumption and production. As suitable action has been taken against greedy businesspersons, prices of edible oil decline in the market.

The news spread that some of edible oil dealers who didn’t sell the edible oil with the reference price were interrogated by the authorities in recent days.

Moreover, Commerce Union Minister U Aung Naing Oo held a coordination meeting with the entrepreneurs in Nay Pyi Taw aiming for stability and reducing of domestic edible oil prices. The union minister also urged the entrepreneurs to sell the edible oil with the reference prices.

Later, Maj-Gen Zaw Min Tun, leader of SAC’s information team, answered the questions of some media outlets dismissing the arrest of some entrepreneurs and saying that they were just attending the meeting in Nay Pyi Taw.