• With measures that Government has put in place, cooking oil prices will reduce by about 20%.
• This is subject to global trends and stability of the Kwacha zdollar exchange rate.
• On the international market, the price of imported edible crude oil has doubled.

Crushers and Edible Oil Refiners Association (CEDORA) has assured the nation that cooking oil prices will reduce by about 20% due to measures that Government has put in place.
Speaking at a media briefing in Lusaka, Association Director Aubrey Chibumba however said this is subject to global trends and stability of the Kwacha/dollar exchange rate.
Mr. Chibumba said the major reason why cooking oil prices have gone up in many countries worldwide including Zambia is because the price of imported edible crude oil has doubled from US$750 per tonne last year to the current US$1,300 on the international market.
He stated that it is the Association’s hope that over time, global prices of crude edible oil will come down so that cooking oil prices can normalise.
“Government has also zero rated VAT on locally manufactured cooking oil. These measures by Government are a product of a series of stakeholder consultations which were spearheaded by Ministry of Agriculture and Ministry of Commerce, Trade and Industry in a bid to curb and stabilize the escalating prices of cooking oil.”
“I wish to re-emphasize the fact that the situation of escalating cooking oil prices is due to global trends and is much worse in other countries than is the situation here in Zambia. And Government must be commended for taking these bold steps,” Mr. Chibumba said.
Meanwhile, Mr. Chibumba commended government for suspending all import duties and Value Added Tax (VAT) on imported crude edible oil, as well as zero rating VAT on locally manufactured cooking oil.
“We wish to commend Government that although the prices of cooking oil have gone up due to global trends, Government has taken steps to cushion the local consumers by suspending duty and VAT on imported crude edible oil and locally produced cooking oil. As you know, two thirds of the cooking oil consumed in Zambia is produced from imported crude edible oil,” he said.