Business

Plans to increase the cultivation of sunflowers in order to export excess edible oil

A coup d’état to increase the crop of sunflowers The Ministry of Livestock and Irrigation is arranging for this.

to acquire the necessary cultivars for the expanded crop of sunflowers; The department stated that it would offer technology and other advantages and collaborate with the private sector to become a significant edible oil exporter and domestic exporter.

Work is in progress to develop a sum of 1.5 million sections of land of sunflower and winter sunflower half breeds for sunflower oil creation. The establishment of distinct solar zones in each state and region for this purpose; Additionally, it is known that they will plant crops.

Furthermore, seed production; the use of a system of joint venture and contract farming; Oil millers are urged by the department to make the necessary preparations for modern oil refineries. Additionally, it demanded increased investments in the production of oil and soybean oil.

Around 600,000 sections of land of sunflower fields in Myanmar; a groundnut plantation covering more than 28 lakh acres; Oilseeds cover more than 76 lakh acres, with 37 lakh acres dedicated to sesame cultivation.

Over 13 lakh tons of cooking oil are consumed annually in the United States. There are approximately 400,000 tonnes of domestic production, so between 800,000 and 1 million tonnes are imported annually.

Prices for palm oil around the world; Due to the rising value of the dollar and the rising cost of transportation, the price of palm oil reached a record high last week of 8,000 kyat per pound. Sesame oil and other peanut oil reached new all-time highs.

Due to the introduction of palm oil into the market, the market fell once more this week to approximately 7,000 kyat per pound.