Magway Province, known as Myanmar's largest oil depot, has only 35% of its oil mills in operation

Published Dec 30, 2024

Tridge summary

Myanmar's largest oil depot in Magway is operating at only 35% capacity, with only 100 out of over 100 oil mills in operation, according to U Nie Lin Aung, chairman of the Magway Oil Merchants and Oil Entrepreneurs Association. The current situation is suitable for buying and selling, with farmers making profits and no market damage. However, Myanmar's domestic edible oil production only meets about 16.3% of the country's annual demand of 1.1 million tons, necessitating significant imports, with projections to import over 600,000 tons in the next fiscal year.

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Original content

Myanmar media reported that U Nie Lin Aung, chairman of the Magway Oil Merchants and Oil Entrepreneurs Association, said that in Magway, known as Myanmar's largest oil depot, only 35% of the oil mills are currently in operation. At around 8:30 am on December 21, at the 32nd Annual Meeting of the Myanmar Oil Merchants and Oil Entrepreneurs Association held at the Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) in Yangon, U Nie Lin Aung, chairman of the Magway Oil Merchants and Oil Entrepreneurs Association, released the above information. U Nie Lin Aung said that there are more than 100 oil mills in Magway Province, but the operation of the oil mills is still not at full capacity, only 35% are in operation. In the oil crop market season, there are It is necessary to protect from all aspects to prevent oil crops from flowing out, and take action to use oil crops domestically. The current oil crop market situation in Magway Province is that farmers are making ...

Source: Foodmate