4 January, 2022 - The Ministry of Finance has announced the purchase of 43 million 37 thousand 412 liters of palm edible oil from the Golden Africa Company in Djibouti to be distributed locally at an affordable price.

The Ethiopian Trading Business Corporation and the Ethiopian Industrial Inputs Development Enterprise signed the purchase contract. The Ministry of Finance guaranteed the 69 million 894 thousand 440 US dollars used for the purchase to the Commercial Bank of Ethiopia.

The purchase of palm edible oil will be completed within a year, and the Ministry of Finance coordinated the purchase in order to stabilize the price of cooking oil in the country. In a letter sent to the Ethiopian Businesses Trading Corporation and the Ethiopian Industrial Inputs Development Enterprise, the Ministry of Finance announced the sale price of a package of palm oil in Addis Ababa and outside Addis Ababa as follows:

Palm oil selling price in Addis Ababa

3 Liters --> Birr 314  

5 Liters --> Birr 510  

20 Liters --> Birr 2003

Regarding the cities outside of Addis Ababa, the transport service fee is 60 cents per quintal per km by considering the distance.

The Ministry of Trade and Regional Integration has also set a direction to notify the Ethiopian Trading Businesses Corporation and the Ethiopian Industrial Inputs Development Enterprise by allocating distribution quotas to the regional and city administrations in the usual way.

(Ministry of Finance)