The Ethiopian government has initiated a plan to transport 50 million liters of cooking oil from Djibouti to various regions of the country to stabilize market prices. They will move the cooking oil using both the Ethio-Djibouti railway and vehicles. This initiative aims to improve the cost of living for citizens and ensure that cooking oil remains affordable as the New Year festival approaches.
After the recent shift to a market-driven foreign exchange rate, in the Addis Ababa Mercato market, a significant price hike was observed, with some prices rising by as much as 400 birr. This increase primarily affects imported packaged foods, beverages, and various other goods.
Traders in the Mercato market in Ethiopia indicated that the prices of the imported cooking oil have surged between 30 birr and 400 birr, depending on the type and demand for the oil.
In the first week of this month, the Minister of Trade and Regional Relations of Ethiopia, Dr. Kasahun Goffe, announced that the government will distribute over 14 million liters of cooking oil across the country to stabilize the market.
To carry out this operation, several government bodies, including the Ethiopian Embassy in Djibouti, the Ethiopian Maritime Transport and Logistics Service, the Ethiopian Commercial Corporation, and the Ethiopian Industrial Resources Development Organization, are collaborating with the Ethio-Djibouti Railway.
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