No need to panic, claims Commerce Minister over edible oil rush

Commerce Minister Soodesh Callichurn has urged locals not to panic – the country has enough stock of edible oil and importers have already secured their next orders.

The statement came after meeting the island’s large oil importers, after a wave of panic blew over the island soon after the State Trading Corporation urged retailers to restrict the sale of edible oil to 2 litres per person.

“We have received the guarantee that there is enough stock of the commodity,” he said, after announcing the lifting of the restriction.

The four main importers, representing 96% of the market and importing 36,000 tonnes of edible oil per year, assured that they had enough stock until May.

The order for the next delivery has already been placed.

“This rationing measure was applied as a precaution because some producing countries from which we import edible oil have banned exports. Meanwhile, importers have found alternative markets and have been able to secure their orders,” Callichurn said.