MEODA to adopt new policy to import quality edible oil

In a bid to improve local edible oil production and import safe and quality oil from overseas, Myanmar Edible Oil Dealers’ Association (MEODA) will lay down policies on import standard specifications, the association affirmed on the 28th annual meeting held virtually on 12 December.
The association will raise awareness of edible oil and coordinate with the related organization to eradicate the illegal imports of edible oil, which has no guarantee for health.
We must exert concerted efforts to import the quality edible oil from abroad in fulfilling the local consumption requirements, Dr Than Myint, Union Minister for Commerce delivered a message at the virtual event.
The domestic consumption of edible oil is estimated at 1 million tonnes per year. The local cooking oil production is just about 400,000 tonnes. Approximately 600,000-700,000 tonnes of cooking oil are imported yearly to meet the self-sufficiency in the domestic market. Therefore, safe and quality oil import is a must, the Union Minister urged.
To boost local production, the related institutions, including governmental organizations, will work together on it. The government stored oil reserves to avoid the price hikes, said U San Lin, president of Myanmar Edible Oil Dealers’ Association.
Myanmar Edible Oil Dealers’ Association and the affiliated associations are cooperating in quality oil import. To ensure the self-sufficiency during the COVID-19 pandemic, the government purchased over 12,000 tonnes of palm oil for reserves, and they have been distributed to the oil tanks in the respective regions and states, the association stated. To ensure the adequate supply in the local market, Myanmar has been importing the quality palm oil from Malaysia and Indonesia, said U San Lin.
The annual virtual meeting was attended by Union Minister Dr Than Myint for Commerce, deputy minister and officials, Yangon Region Chief Minister U Phyo Min Thein and officials concerned and officials from Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Edible Oil Dealers’ Association and the affiliated associations. — Myint Maung (Translated by Ei Myat Mon)

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