It will decline to zero in coming months creating a shortage of edible oil such as palm oil vegetable, seed oil, crude and refined coconut oil prompting some traders to hoard their imported stocks.

Most of refined coconut oil and palm oil importers couldn’t clear their containers due to high freight charges which were a result of a Chinese- American trade war and most of vessels diverted to other destinations.

The other reason was the unfair practice and favouritism of Customs, Sri Lanka Standard Institution and Port health department delaying approval for imported oil samples of small importers for 48 hours while allowing two leading firms to clear their socks without delay, several minor importers complained.

Sri Lanka needs 10,000 metric tonnes(MT) of edible oil per month and this has come down by 50 per cent due to economic crises and loss of purchasing power of the ordinary people, a senior Treasury official said.