Yangon, May (13)
The Myanmar Edible Oil Millers Association (MEOMA) claims that while Indonesia, Myanmar’s biggest oil supplier, has stopped exporting edible oil, there is no run out of edible oil in the nation.
On April 28, Indonesia announced that it would no longer export cooking oil.
MEOMA subsequently informed the enterprises on May 10 that they could not distribute the remaining oil from the tank without the Ministry of Commerce’s consent.
As a result, business owners are concerned that the country would run out of cooking oil.
There is enough edible oil for 12 days of domestic consumption, and cooking oil will not be in short supply as more oil tankers from Malaysia arrive in a few days, U Paing Phyo Thant, secretary from MEOMA told Than Lwin Times.
“In the meantime, we have called for a halt to the supply of oil to check the tanks for fear of oil shortages. However, the notice was issued at 1 pm on the 10th of May, and it leaked through the company at 3 pm. Some companies have also been informed that oil can be supplied,” he told Than Lwin Times.
The Ministry of Economy and Commerce, on the other hand, has ordered a temporary suspension of oil shipments from the border trade zone beginning May 9.
According to an official from the Mon State Pulses and Sesame Association, despite the suspension of oil crop exports, prices have remained stable, with a 10 viss of sesame oil fetching 86, 000 kyats.
Myanmar imports tens of thousands of tons of edible oil every year since there isn’t enough for home consumption.
Edible oil is mostly imported into Mon State from Malaysia and Thailand.
News – Than Lwin Times