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About 800,000 tons of edible oil is imported annually to meet domestic consumption as the country can produce only 400,000 tons per year

As the country can only produce about 400,000 tonnes of edible oil a year, about 800,000 tonnes of edible oil is imported annually to meet domestic consumption, according to a May 25 meeting to coordinate the import and distribution of safe and healthy edible oil. According to the Ministry of Commerce, about 1.2 million tonnes of edible oil is consumed annually in the country and production is around 400,000 tonnes, with about 800,000 tonnes imported annually. U Myint Cho, Director-General of the Department of Consumer Affairs said.

Efforts are being made to bring imported edible oils in line with the standards and quality set by the government, and efforts are being made to ensure that consumers can purchase safe and healthy edible oils at reasonable prices. Relevant Ministries need to provide the necessary technologies for the development of the oil industry and the supply of raw materials, warehouses, dryers and machine parts are also being made in collaboration with the private sector. The state is providing support for the development of Myanmar’s domestic edible oil production sector.

The government will provide loans to get good and pure seeds for oil crops, to the relevant ministries and agencies to increase the use of technology and modern agricultural equipment, increase acreage yield, reduce production costs and improve the production of high quality products that are safe for consumers. It is reported that they are cooperating with organizations. According to the Myanmar Oil Industry Association, there are more than 3,000 officially registered oil refineries and more than 2,000 unregistered oil refineries, for a total of more than 5,000 oil refineries. Myanmar Oil Entrepreneurs Association for Sagaing, Magway Peanuts from Mandalay Region In collaboration with sesame farmers, in the 2018 monsoon, 6,000 acres and to cultivate 3,000 acres in winter and meet half of the country’s oil demand by 2020.

Source: Daily Eleven

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