Local edible oil producers seeking solutions to pressing challenges
Addis Ababa, March 22, 2022 (FBC) – In a consultative meeting organized by FBC, local edible oil producers are discussing problems affecting the sector and possible solutions to address the issues.
Companies engaged in production of edible oil and concerned government institutions have brought forth the pressing challenges that are impacting the sector. It is stated on the occasion that there are 30 edible oil processing factories in the country that can address the growing demand if they go operational with their utmost capacities.
But, according to the discussants, the factories are now addressing 40pct of the demand due to serious bottlenecks related to shortage of financial loan, power outage, shortage of agricultural inputs, among others.
Most of locally produced agricultural products needed by edible oil factories are being exported to foreign markets despite local demand, participants said. Ethiopia spends up to 1 billion USD for crude edible oil import, it is stated.
As solutions to the problem, company representatives called on the government and concerned stakeholders to ramp up production of edible oil crops, strengthen value chains and address electric power shortage. Currently, shortage of edible oil in the market is causing unprecedented social burden on the community.