The government has planned to increase the annual domestic edible oil production up to 4.793 million tons in 10 years.
The country produces 0.745 million tons of edible oil annually, which is only 8% of the total domestic demand
The import of palm oil was recorded at $3,058 billion while that soyabean oil stood at $217.7 million.
the production would be gradually increased from the current 0.745 million to 1.192 million in five years and 4.793 million in the next 10 years.
This increase in local production is expected to save the country over $7 billion annually.