INP-WealthPk
Pak-China peanut cooperation can be a solution to high edible oil prices
December 19, 2021
Islamabad, Dec 19 (INP) Pak-China peanut cooperation can be a solution to high edible oil prices, says a report published by Gwadar Pro on Sunday.
Earlier this month, the National Price Monitoring Committee (NPMC) in Pakistan asked the Ministry of Industries & Production (MoIP) to control edible oil prices by exploring alternative options for the imported palm and soya bean oil.
Shandong Rainbow Agricultural Technology Co., Ltd in China has been planing a Pak-China peanut oil cooperation for a few years, which may meet Pakistan’s demand.
"To continue China-Pakistan agricultural projects, our company registered a new company in Pakistan and appointed me as the CEO. The peanut oil cooperation is our key project," said Babar Ijaz, overseas business manager at Shandong Rainbow Agricultural Technology Co., Ltd and CEO of Sino-Pak Agriculture Pvt. Ltd.
"Peanut oil is the world’s best frying oil. Its smog point is near 260 degrees centigrade. Peanut contains more than 50 percent oil. Once we are self-sufficient in peanut production, we can produce more by-products for export.
We can also reduce our import bill of edible oil," said Muhammad Jahanzaib, scientific officer of the Oil Seed Research Program in National Agricultural Research Center（NARC）in Pakistan. He reveals that NARC has started to attach importance to peanut industry in Pakistan." China is one of the world’s largest peanut producers.
They cultivate peanuts on raised beds, do mulching and use combined harvesters. Pak-China cooperation in peanut industry has great potential." He added.
"Lands of Potohar region is very suitable for peanut production, but we still need to improve the land by adding good fertilizer and land preparing process.
We plan to send staff there for technology transfers after the pandemic." said Babar. In this stage, his company plans to submit the Chinese seed for registration in Pakistan, so it can be planted on a large scale in the next planting season.
"There is a famous olive oil production program in Pakistan. If the peanut oil production program in Pakistan can also be given attention, a lot of people will get involved in this industry. It will improve the economy of Pakistan."
INP/javed
