Palm oil production reaches under local consumption

Representatives from the edible oil industry are calling on the government to increase domestic production to meet the local demands.

Myanmar Edible Oil Dealers Association’s President Thein Han, at the 21st year anniversary meeting of the association, pointed out that local palm oil consumption is about 850,000 tonnes annually. But demand is much higher and the country has to import 350,000 tonnes annually to make up the differences.

Local edible oil consumption rate is 50 tical per month for one person and six viss per year for each person. Myanmar has 60 million populations so the consumption rate is roughly 600,000 tons per year. Hotels, food industry and other industries used 250,000 tons of edible oil annually. The total consumption rate is 850,000 tons annually.

“Our local production rate is only 500,000 tons annually so we have to import 350,000 tons of edible oil yearly,” the chairperson said.

Win Myint, Ministry of Commerce suggested that Myanmar should produce edible oil locally to meet the requirements instead of importing palm oil from overseas.

Other countries are reducing the edible oil consumption rate and Myanmar hasn’t reduced the consumption rate yet. There is needed to control the consumption rate for good health, said Zaw Min Win, Vice President of Union of Myanmar Federation of Chamber of Commerce (UMFCCI).

source: Eleven Myanmar

http://www.elevenmyanmar.com/national/4453-palm-oil-production-reaches-under-local-consumption