International experts advocate sustainable economic growth for Sri Lanka through edible oil

Published 2024년 7월 25일

Tridge summary

Experts at an international conference emphasized the financial burden on Sri Lanka due to palm oil imports and suggested reconsidering the ban on palm oil cultivation. The high demand for palm oil in food processing highlights its significance. The 'Sustainable Futures' workshop, supported by international bodies, discussed the benefits of palm oil cultivation, such as employment and trade opportunities. Comparisons with India's import challenges were made, stressing the need for sustainable and economically viable palm oil production in Sri Lanka. The article also highlights the importance of the IPOS framework to address sustainability risks, noting that palm oil is a key economic driver in Asia, supporting food security, livelihoods, and socio-economic development.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

There is a substantial drain on the country’s finances as millions of rupees are splurged on palm oil imports in Sri Lanka, experts recently pointed out at an international conference. 90% of food processing companies using palm oil and more than 60% of edible products in supermarkets being made from palm oil shows a high demand for palm oil, a major reason Sri Lanka should critically reflect on lifting the ban on palm oil, they added. The workshop “Sustainable Futures” on the advantages of using vegetable oils was held at Cosmic by Citrus, Lotus Tower in Colombo 10, organised by the Nucleus Foundation. The Agriculture Ministry and Plantation Industries served as the main partners for the event, with support from the Malaysian High Commission, the Indonesian Embassy, and Solidaridad, an international civil society organisation. Solidaridad Asia Managing Director Dr. Shatadru Chattopadhayay said that, given Sri Lanka’s achievements in tea, there is potential for similar success ...

Source: Ft