ADDIS ABABA (ENA) August 28, 2007- The Ministry of Trade and Industry announced plans Thursday to begin distributing edible oil in the metropolis as of next week through the Ethiopian Merchandise Wholesale Import and Tread Enterprise.
The Ministry also said the government has lifted the 10 per cent surtax previously levied on imported edible oil.
At a press conference held here Thursday, State Minister of Tread Sector Ahmed Tussa said that the enterprise would supply one liter edible oil for 15 Ethiopian birr stating from next week.
He said the government has considered the rising price of edible oil in the country and has lifted the surtax levied on the product previously.
The nation has imported from 60 to 70 per cent of its total edible oil consumption from abroad.
The state minister attributed the rising price of edible oil in the country to the mismatch between demand and supply.
The ministry has also plans to distribute edible oil in state towns through cooperatives and unions, the state minister said.
The sate minister said the government has allocated 90 million birr budget to stabilize edible oil market in the nation.
The government encourages importer engaged in importing edible oil, Ahmed said and added that the government itself is making efforts to import the product through the state owned Merchandise Wholesale Import and Trade Enterprise.
The current measure is expected to press down the current price of edible oil that reached to 25 birr per liter.

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