Licence to import palm oil for bakery industries despite ban

Trade Minister Bandula Gunawardena says that  licence will be issued to the biscuit and bakery industries to import palm oil despite the existing ban.

The Minister made this statement at the Parliament today (07).

The President has banned the cultivation of palm trees and the import of palm oil. However, the ban has impacted the bakery industry and the biscuit industry the most.

Minister Gunawardena added that steps are being taken to uplift the local coconut oil industry and the coconut industry in the country and that an appeal can be made to the President and the Secretary to the Ministry of Finance to reduce the cost of foreign palm oil and to supply the required quantity of palm oil to the industrialists.