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Egypt signs deals to import 90,000 tonnes of edible oil
February 27, 2017
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CAIRO: Egypt has sealed deals to import 90,000 tonnes of edible oil in the near future, as part of a government effort to boost the supply of strategic commodities, Minister of Supply and Internal Trade Ali El-Moselhy said.

Under the signed contracts, 60,000 tonnes of sunflower oil and 30,000 tonnes of soybean oil would be imported, El-Moselhy said.

The move is part of the government’s plans to increase stocks of strategic commodities and provide citizens’ needs at reasonable prices in a way that achieves market balance and stability.

Egypt has food oil stocks sufficient to cover up to five months, according to the minister.

Reuters

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