His announcement came as inflation is causing price hikes in multiple sectors of the retail market in Ethiopia. He said when the retail market system is open to competition, it will make these traders "to come back to their senses." 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. "Total area for sesame production is estimated at 520,000 hectares (HA),down by 13 percent compared to the prior year. "Furthermore, several other edible oil complexes are expected to commence productions by end of this year.

Source: Ethiopian News March 10, 2022 07:15 UTC