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Cooking oil, cement prices remain stable amid petrol hikes
The government last week announced an increase to petrol prices for the fourth time this year, while the prices of local cooking oil and cement supplies remain stable.
The nation's only cooking oil producer, Sengsavang Food and Plastic Production Company, sells oil for 250,000 kip in 18 litre batches.
“Our transport costs have also kept stable,” a senior company official, Mr. Sanhti Louangsuvahnavong, said yesterday.
Mr. Sanhti said the price of cooking oil had remained stable as the company has had to honour previous purchase agreements with customers and dealers. However, it will revise the price when new purchase agreements are considered.
Otherwise it will not be able to compete with imported cooking oil.
Sengsavang imports unfiltered cooking oil from Malaysia, then filters it and packages the oil in labeled containers and bottles, which are also made by the company. Its products are sold under the brand name ‘Somboun'.
Cement and transport prices have not gone up even though suppliers have had to pay increased petrol costs.
The Cement Producers' Group Secretary Mr. Inpone Phathananoulack said the group currently pays 95,000 kip per tonne for transport from Vangvieng district in Vientiane province to the capital. It will keep cement prices at the current level until petrol prices rise substantially.
The current price of ‘green' brand cement is 680,000 to 710,000 kip per tonne and ‘red' brand cement 750,000 to 780,000 kip per tonne. The group has been selling at these prices since May last year.
In Vientiane, petrol stations are now selling premium petrol for 11,040 kip per litre, regular petrol for 9,940 kip per litre and diesel for 8,780 kip per litre, according to the Ministry of Industry and Commerce.
In the provinces of Khammuan, Savannakhet, Champassak, Bokeo and Xieng Khuang, premium petrol now costs between 11,060 and 11,170 kip per litre, regular petrol 9,990 to 10,220 kip per litre and diesel 8,820 to 9,090 kip per litre, affecting transport costs.
The prices have risen by between 60 and 240 kip per litre nationwide. Last year, there were 14 fuel price adjustments by the government, 10 of them increases. That followed 15 adjustments in 2009, of which 11 were rises.
Fuel prices fluctuate in Laos depending on shifts in the global market.
The Lao Petroleum and Gas Association reported that fuel consumption in Laos is expected to rise to more than 750 million litres this year. Consumption increases about 7 to 10 percent each year. About 45 to 50 percent of fuel imported is used in Vientiane and Vientiane province.
The Vientiane Times
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