Country’s cooking oil demand stands one million ton annually; productivity remains 20 percent of it
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Khit/Phoo (NP News) - June 13
Domestic oil production in Myanmar is 15,000 tons per month with an average of 180,000 tons per year, a spokesperson from the Ministry of Commerce told the NP News.
The country is making a steadfast effort to extensively increase the plantation of oilseed crops to overcome cooking oil shortage. Plans are underway to expand the sunflower plantations up to 1.5 acres in 2022.
According to reported data, average consumption of cooking oil by individual is 0.4 kg for a day.
“There are nine tanks to store the cooking oil in the country with a total storage capacity of over 70,000 tons. We conduct a regular monitoring the oil market to make sure enough supply of the oil,” said the spokesperson.
Committee to supervise cooking oil import and distribution has been organized for ensuring healthy and standard quality of the imported oil with stable price. The committee sets reference price for the wholesale market for a week after calculating the daily prices from Indonesia and Malaysia markets.
Myanmar purchases cooking oils from Malaysia and Singapore to fulfill the domestic demands since Indonesia has changed its export policy on April 28, 2022. Indonesia, now, re-allows exporting palm oil to Myanmar.
The government carries out projects to upgrade factories for grinding oilseeds. Investments are also invited to devote in the related sector. Loans and technical assistance are also granted by the government.
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