Africa-Press – Zambia. The Crushers and Edible Oil Refiners Association –CEDORA- has attributed the upward adjustments of cooking oil prices and shortage of sunflower oil which accounts for about 25% of the total oil consumed to the current tension between Russia and Ukraine.
In an interview with Phoenix News, Association Director Aubrey Chibumba explains that currently, the market price of palm oil on the international market is about US$2,000 per ton which has affected the market.
And Mr. Chibumba has insisted that government reintroduces the waiver on value added tax which will help reduce the price of cooking oil by between 16 to 25% after vat was brought effected on 1st January 2022.
He notes that cooking oil prices have steadily been increasing as a 5 liter of cooking oil which was selling below K200 in mid-January this year is currently selling between K300 and K350.
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