Myanmar suspends foreign exports of peanuts and sesame seeds! For more information on export to China, please call SINOLOBEN, service Email: email@example.com
Global New Light of Myanmar, May 12 - The Trade Department of the Ministry of Commerce of Myanmar issued an announcement on May 9 to suspend the export of peanuts and sesame seeds to ensure the supply of Myanmar's domestic market. The export of peanuts, sesame and various other oil crops, except for black sesame, is suspended through border trade ports. The relevant regulations came into effect on May 9, 2022.
The Trade Department of Myanmar's Ministry of Commerce said the international edible oil market has been negatively affected by factors such as poor trade due to the New Crown epidemic, Indonesia's ban on palm oil exports and the decline in sunflower oil exports due to the escalation of the Russia-Ukraine crisis. The export of oil crops needs to be restricted to ensure food security.
Since most oil crops and edible oils do not require export permits, Myanmar Customs stopped the export declaration and clearance procedures for oilseed agricultural products except black sesame and edible oils from May 9.
In addition, the Myanmar Edible Oil Dealers Association (MEDDA) issued a statement on May 10 prohibiting the dispensing of edible oil from storage tanks without informing the MEDDA, in accordance with a directive from the Myanmar Ministry of Commerce. According to the May 9 report, Myanmar currently has only 18,097.16 tons of palm oil reserves left. The statement stressed that Myanmar will keep cooking oil stocks unchanged.
From May 9 to 15, the reference selling price of palm oil was 6,025 kyat/kyat (equivalent to about 12.5 yuan/kg).
Myanmar needs to consume about 1 million tons of edible oil every year, but its own production is only about 400,000 tons, and it needs to import about 700,000 tons of edible oil through Malaysia and Indonesia every year.
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Ms. Linda Li
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As food importer & food distributor based in Frankfurt and Shanghai, Sinoloben Europa Trading GmbH helps client export to China and bring your food products to International Expo, e.g. China International Import Ex