Negotiations are underway to attract foreign agricultural companies to invest in Myanmar by growing oil crops on vacant land, according to U San Lin, Chair of the Myanmar Edible Oil Dealers’ Association. This initiative aims to achieve self-sufficiency in edible oil production.
Despite cultivating marketable oil crops domestically, Myanmar’s production of edible oil remains low due to limitations in grinding and milling technology. As a result, locally grown peanuts are exported as raw produce rather than processed into peanut oil.
To address this challenge, the Myanmar Edible Oil Dealers’ Association is engaging in negotiations with foreign agricultural companies. These companies would be granted permission to cultivate oil crops, such as sunflowers, on vacant and unused land in the country.
“We are negotiating with foreign agricultural companies interested in investing in Myanmar’s agricultural sector,” explained U San Lin. “We have vacant land available, and we will collaborate with relevant authorities to facilitate land acquisition. Once land is secured, these companies will be allowed to establish factories and oil mills nearby to process the crops into edible oil.”
This initiative is crucial as Myanmar’s domestic production of edible oil (approximately 300,000 tonnes annually) falls significantly short of national consumption (around 1,200,000 tonnes annually). Consequently, Myanmar imports nearly 900,000 tonnes of edible oil each year, with over 90 per cent originating from Indonesia and Malaysia. — ASH/MKKS
