Egypt turns to Malaysia, Indonesia for vegetable oil amid food export bans
Amid a severe shortage and soaring local prices, Egypt is exerting efforts to resume imports of vegetable oil from Indonesia and Malaysia.
The recent shortage of vegetable oil in Egypt has escalated the food supply crisis in the North African country, with prices climbing since May 15.
According to the new price lists for edible oils announced by Arma Food Industries Company and the Savola Group, two of the largest edible oil companies in Egypt, prices on May 15 registered 9 Egyptian pounds (about 50 cents) for a bottle of less than a liter and 23 Egyptian pounds ($1.23) for a 2.2 liter bottle.
On June 1, the Egyptian Ministry of Supply and Internal Trade announced that nearly half a million Egyptians have so far been removed from the ration card system. The system subsidizes bread and vegetable oil. The move came in light of the lack of supplies to Egypt, which imports 90% of its needs of vegetable oil, according to Amr Madkour, the ministry’s adviser.
Speaking to Al-Monitor via phone, Madkour explained that the vegetable oil shortage in Egypt is due to several causes, most notably the lack of a global supply due to the outbreak of the Russian-Ukrainian war. “These two countries are among the major exporting countries of sunflower oil. Egypt would import huge quantities of this type of vegetable oil from them,” he noted.
