Myanmar imports palm oil to meet cooking demand

Myanmar imported 400,000 tons of palm oil annually to fill demand of edible oil as an alternative, an official report said on Sunday.

Domestic edible oil produced from peanuts is 500,000 tons a year, while edible oil consumption is 900,000 tons, the Edible Oil Dealers' Association was quoted as saying.

The association attributed the low edible oil production to less number of peanut oil mills in operation nationwide.

Since 2011, Myanmar has granted private companies to import palm oil from Malaysia and Indonesia in a bid to meet the demand.

Malaysian entrepreneurs have introduced their palm oil to the Myanmar market over the past few years.