The unavailability of high-quality sunflower seeds, high cost of palm oil imports and global geopolitical dynamics could see the prices of edible oils rise further in the region this year.
In 2023, edible oil prices remained high, continuing the trend from a significant increase experienced in 2022 across the region.
Billow Kerrow, former Mandera senator and a dealer in edible oil, blames the strengthening of the dollar against regional currencies, the war in Ukraine and the Israel war in Gaza for supply disruptions that will affect the price of palm oil.
“Shipping freight is a major constraint and already the cost is going up. Most manufacturers are worried that the cost of production will go up. There is therefore no respite this year,” Mr Kerrow said.
The rise in demand for clean edible oil products extends profitable opportunities to the market players to 2029. But with local challenges, among them the availability of quality sunflower seeds in Tanzania, prices are forecast to go up.
Source: East African
