A New Edible Oil Hits Shelves

Jun 29 , 2019

Belayneh Kinde Import & Export Plc has invested 2.5 billion Br for the construction of an edible oil plant in West Gojam Zone Bure town, Amhara Regional State. Resting on 30ha, the plant will have a capacity of producing 1,400tn of edible oil a day and is expected to cover 60pc of the country’s oil demand. The company plans to source raw materials, such as soybeans and sunflower, from the local market. Upon becoming operational, it is also expected to create 2,000 jobs. Ethiopia has been importing subsidised palm oil to cover shortages of oil in the country. The country has an annual potential of producing more than 785,000tn of oilseeds. Though there are over 1,000 companies registered by the Ministry of Trade & Industry to process oil, Ethiopia imported 416,000tn of subsidised palm oil in 2017. In 2011, the government banned private companies from importing edible oil. As the shortage in the market grew, however, the Ministry of Trade & Industry allowed select public and private companies, such as Hamaressa Edible Oil S.C, Alle Bejimla and Belayneh Kinde Import & Export, to import edible oil.