Cooking oil production. The move is welcome considering manufacturers had increased the commodity's retail prices by 35% due to the 45% increase in the cost of importing palm oil into the country. Joko Widodo lifts ban on palm oil exportsIndonesian president Joko Widodo said the supply of the commodity had exceeded its needs. According to a report by KBC, cooking oil prices are likely to come down in the next few weeks. A litre of cooking oil costs between KSh 342 and KSh 400 with manufacturers paying between KSh 200,534 and KSh 225,522 per metric tonne.

Source: Daily Nation May 22, 2022 02:03 UTC