The recent shift to a market-driven foreign exchange rate system has triggered a significant price increase in the Addis Ababa Mercato market, with some prices rising by as much as 400 birr. This increase primarily affects imported packaged foods, beverages, and various other goods.
Traders of Mercato market indicated that the prices of imported edible oils have surged between 30 birr and 400 birr, depending on the type and demand for the oil. Popular cooking oils, including “Sunflower,” “Omar,” “Grandma,” and “Orchid,” have experienced notable increases. For example, the price of 5 liters of “Sunflower” oil rose from 920 birr to 990 birr, while “Omar” oil jumped from 1,035-1,045 birr to 1,100 birr.
The price of “Ayat” brand oil also saw a significant rise, with 3 liters now priced at 3,900 birr, an increase of 150 birr. Similarly, 5 liters of “Ayat” oil climbed from 4,300 birr to 4,700 birr. “Orkaid” oil also increased in price, going from 980 birr to 1,010 birr.
The Mercato market atmosphere has slowed, with traders discussing the rising dollar value. Many merchants, who are usually busy, turned away customers looking for edible oil, stating they had none available. They explained that they prefer to hold onto their stock until the foreign currency situation stabilizes.
Merchants selling imported products, such as powdered milk and diapers, reported price increases as well. For instance, the price of 900 grams of “Nido” powdered milk rose from 1,850 birr to 2,200 birr, while 400 grams of “Baby Lak” milk increased from 650 birr to 750 birr.
The new foreign exchange rate system has raised concerns among merchants, who worry that the value of the birr may continue to decline, leading to further price hikes. One merchant in clothing and shoes expressed worry about future increases, suggesting they would hold off on raising prices for now but expect a 200 birr increase soon.
Despite the overall price hikes, some food items, such as pasta, macaroni, and wheat flour, have maintained their prices from the previous week. Macaroni currently sells for 106 birr per kilo, pasta ranges from 72 to 74 birr, and wheat flour costs between 82 and 84 birr per kilo.
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If God is with us, who will resist us?We will go even further through our Lord Jesus.
Merchants told for their permanent customers that, the holding of stock will continue for a week. If this method last for a week, it may affects demand and supply balance. Finally inflation may prospected. So inoder to stablize the price Government should intervene, by inspect merchants’ ware house or fill the gap by supplying basic consumer goods. like edible oil, wheat products(flour,spaghetti,macaroni), sugar, rice and likes..
Unless ማለቃችን ነው።
Elililllllllllll?!!!! Ups!!! When it gets dark, it will goes bright. The sun sets for twelve hours and rises after all. Sleepy people worried about the dark. Active people think about the timely change. And goes with the time. That’s all the situation. Yelling about the incident is foolishing self. Creating the incidents solutions is Change to others go beyond suffering and resistance.
Therefore, umer, ayate… Oil market rise have solution to change our mind to ‘Kiba nug’, ‘telba bulbula’, ‘suf kibat’, and ‘senafich oil’ which are indegenious and in our near farm.. Forget about dollar. Remember about our resources.