A stockpile of cooking oil allegedly seized by local authorities from a hoarder in Sululta town on 08 March. The price for a pack of five liters edible oil soared to ETB1000 at retail stores this week up from ETB600 last week. Inputs for edible oil production was among the prioritized lists in order to stabilize the market. Citing data obtained from the Ministry, Wazema reported that the number of businesses that obtained licenses to distribute edible oil were far more greater and are more accessible than businesses registered with the Ministry to produce edible oil locally. This has led investors to resort to importing edible oil instead of producing it locally.

Source: Ethiopian News March 10, 2022 00:09 UTC