Oct 15, 2020

240,000 metric tons of palm oil to Sri Lanka Featured

The All Ceylon Traditional Coconut Oil Producers' Association alleges that paragraph (o) of Gazette No. 195/5 dated October 07, 2016, issued to importers, distributors and traders by all oil producers, has given the opportunity to fraudulent traders to mix coconut oil and substitute oil.

They revealed this at a press conference held in Colombo yesterday (14).

The convener of the association Buddhika de Silva said that the relevant gazette should be cancelled to protect the local coconut oil producers.

The fatty acid content of palm oil is 20%.

He said that he regretted that a gazette notification had been issued to allow the importation of any harmful blended oil for consumption in the country and that although the President was informed about this, his union had not yet received a proper response.

He said that Sri Lanka currently imports 240,000 metric tons of palm oil a year, which would bring in an additional profit of around Rs. 20,000 million to large scale smugglers.

He said that the consumption of palm oil is more harmful to the body than the consumption of coconut oil and the high fatty acid content of the oil is a very dangerous carcinogen.

He said that according to the standards of countries such as Malaysia and Indonesia, the percentage of fatty acids in refined palm oil is 5% but the percentage of unrefined palm oil imported to our country is as high as 20%.

Speaking further the convener of the association Buddhika de Silva said, “The annual consumption of coconut oil in our country is 180,000 metric tons.Local coconut oil producers have the capacity to produce coconut oil for consumption in the country.

We request for  the necessary raw materials and machinery.About 240,000 metric tons of coconut oil is imported.If our country's industrialists are provided with the necessary facilities, there is no need to import oil from other countries incurring a high cost.

We request the government to provide loans at concessionary interest rates to uplift the declining local coconut oil industry.If we were allowed to import copra and shredded coconut instead of importing coconut oil from abroad, we would be able to increase local coconut oil production."