The government's import of palm oil will be partially produced locally from next year
The Ministry of Trade and Industry Domestic Investment Transformation Directorate Director Mr. Admasu Yifru, said the government has started the process of producing palm oil next year, one of the main imported commodities to prevent the cost of living for citizens.
Admasu said four companies, Fevela Industries Limited, W A Oil Production and Distribution Limited, Shemu Private Limited, and Al Impex Oil Production, have been licensed to produce the oil.
Director said the companies have received a request from the National Bank of Ethiopia (NBE) for foreign exchange in order to import crude oil, companies would start production soon.
Hamaresa edible oil company has made a similar request to produce the oil, and the ministry is expected to respond to it when the process begins.
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