Soaring palm oil prices prompt long lines in Myanmar

Soaring palm oil prices prompt long lines in Myanmar

The price of edible palm oil in Myanmar has soared in recent months to more than five times what it was prior to the February 2021 military coup, leading to long lines around the country. A staple commodity in Myanmar, where it is used to cook, the cost of palm oil is a barometer for inflation and the health of the wider economy, which has become progressively worse since the takeover amid fallout from the COVID-19 pandemic, international sanct…