October 19, 2017

Develop domestic production — Myanmar Palm oil imports reach 400,000 tonnes a year

Locally-produced peanut oil on display at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon.
Locally-produced peanut oil on display at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon.

Myanmar imports around 400,000 tonnes of palm oil annually to fill the gap between national edible oil consumption and production, according to an official of the Myanmar Edible Oil Dealers Association.
Domestic production of edible oil made from peanuts is around 500,000 tonnes a year while the country’s edible oil consumption is around 900,000 tonnes, U Sann Linn, vice-chairman of the association, said yesterday.
Annual per capita edible oil consumption is estimated as about 12 kg in Myanmar, which totals around 600,000 tonnes a year for the entire population, he said, adding that about 300,000 tonnes is annually consumed by restaurants and food-processing businesses.
On peanut oil production which is insufficient to meet local demand, the vice-chairman commented that good price obtained for peanut exports is a factor that reduces domestic production.
He also pointed out huge difference in prices between peanut oil and palm oil, making peanut oil unaffordable for most households.
“Peanut oil is priced at K 7,000 or 8,000 a viss (1.6 kilograms) while palm oil can be bought at a price of around K 1,500 a viss.”
A survey conducted by the Myanmar Marketing Research and Development in Yangon, Mandalay and Mawlamyine found that peanut oil is the preferred cooking oil of housewives aged between 25 and 50, but they mostly choose to buy palm oil due to lower price.
According to the vice-chairman, although there are about 3,500 peanut oil mills nationwide, only a small number of mills are in operation.
Only when there is greater cultivation of edible oil crops, availability of technology and modern farm equipment and electricity, and banking sector development for growers and millers, can domestic production develop, contributing towards higher consumption of locally produced edible oil, said U Thein Han, former chairman of the association .
The former chairman made the comment in his address at the 23rd annual meeting of the association yesterday.

Comments

Related posts

Translate »