The current status of Myanmar's economy as seen through the cooking oil crisis
Refined Sunflower Oil
Market & Price Trends
Published Oct 13, 2023
Cooking oil plays a significant role in Myanmar's food culture, with almost all traditional dishes cooked or fried using it. Peanut oil is the most preferred cooking oil among residents, followed by sesame and sunflower oil. However, due to a high demand that exceeds domestic supply, the government has started importing palm oil and sunflower oil, with the majority of cooking oil consumption in the country now covered by imports. This, along with the increase in overseas exports of peanuts, has led to a surge in cooking oil prices, highlighting the challenges of the country's current economy and the decline in local purchasing power.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Local food culture and the status of cooking oil Cooking oil plays an absolute role in Myanmar's food culture. Almost all side dishes in local traditional diets are cooked or fried with cooking oil, and various types of oil are included in snacks and noodle dishes as well. Local residents also recognize cooking oil as the most important food ingredient along with rice, the staple food, and have always paid attention to stable production and supply. In traditional society, cooking oil was considered a symbol of wealth. In fact, in the past, regardless of the original recipe, there was a culture where the more oil used, the more luxurious the dish was treated, and even the expression “taking a bath in cooking oil” is still used as an idiom to express extravagance. [Source: KOTRA Yangon Trade Center photo] Statistically speaking, the consumption of cooking oil is also quite high. According to data compiled by Myanmar's ...