North Macedonia temporarily bans vegetable oil exports

Published Mar 11, 2022

Tridge summary

The Government of North Macedonia has imposed a ban on the export of sunflower oil until 31 May, as part of efforts to support the economy and address the challenges of rising food and energy prices. This measure is in line with a trade law that enables the government to regulate the export and import of goods in special circumstances. The ban is a response to the ongoing European and global crisis, the most severe since World War II, which is marked by increasing oil, flour, and gasoline prices in the Western Balkans, including Albania, against the backdrop of a ongoing gas and energy crisis in Europe since 2021 and the pandemic since 2020.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Government of North Macedonia has decided to ban the export of sunflower oil until 31 May. This was reported by the Albanian news agency Telegrafi Maqedoni. This decision was a continuation of measures to support the economy during the period of rising prices for food and energy. The decision was reportedly based on a trade law that allows the government to restrict the export and import of goods under special conditions for export or import. Prime Minister of North Macedonia Dimitar Kovachevski called the current European and global crisis the biggest since World War II. Prices for oil, flour and ...
Source: Oilworld

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