The Ethiopian Government drops tax, tariffs on all imported edible oil products

To stabilize the market and minimize the economic effects of COVID 19 on Ethiopian households, the government has decided to remove tax and tariffs posed on all kinds of imported edible oil products. There are over 900 companies importing different kinds of cooking oil mainly from Dubai, Netherlands, Indonesia, China, and other Middle East countries. Also, there are over 1,000 companies that are registered by the Ministry of Trade and Industry to process oil in the country.
Following the decision of the government, the oil market has seen a massive reduction in price including sunflower and other refined standard oil products. Usually, one liter of sunflower imported oil was sold 90 birr, however, after the statement the market dropped to 70 birr per liter on average.