Why do prices of edible oil rise in Ethiopian market? (video)

Mereja Media

Prices of edible oil such as groundnut, sunflower and palm oil reportedly have risen by 20-30 percent over the last three months in Ethiopia, due to recovery in demand and coronavirus pandemic.

Owners of local edible oil producing factories attribute the increase in the price of cooking oil to reduction in the volume of oil production due to shortage of inputs while importers say the increase was due to weakening value of Ethiopian birr against dollar.

Ministry of Trade on Friday blamed greedy traders for the rise in the price of cooking oil despite privileges it granted for both local edible oil producers and suppliers to import inputs duty free. Video

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