Exported edible oil takes 80 pc of local oil market share

Exported edible oil takes 80 pc of local oil market share
A local edible oil mill.
A local edible oil mill.
Published 19 January 2020

 

Exported edible oil has taken 80 per cent of local edible oil market share, said U Khin Soe, chair of Myanmar Edible Oil Millers Association, at the ceremony to reform Mandalay Region Edible Oil Millers Association and select the executives for 2020-22 , at the MRCCI in Mandalay on January 17.

Around 90 per cent of local edible oil mills have stopped their operations due to the sale of fake edible oil and unfair competition in the local market. The sale of fake edible oil becomes rampant in the local market. I pointed out that problem since 2014. The people sell peanut-scented oil nationwide after palm oil is mixed with chemicals.  I called for the government to put a ban on the illegal sale of substandard, unhealthy products. We find it difficult to tackle it as the law relating to the provisions for labelling will take effect only on March 15, 2020. So we are looking forward to that day, he added.

Last year, the sale of peanut oil, sunflower oil and sesame oil exceeded over 30 per cent. The sale of pure peanut oil declines by 10 per cent this winter season, according to Mandalay District Edible Oil Millers Association.

The consumption of cheap palm oil becomes high as the prices of sesame and peanut oil have increased.

Local oil millers find it difficult to survive as the people have to turn to cheap palm oil and mixed oil.