Egypt Watch

Price of cooking oil rises for fourth time in less than a month

The price of cooking oil has increased four times in the last three weeks, with values
​​ranging from EGP 2,600 to EGP 3,200 per ton, driven by higher demand and lower
supply at production plants, with global changes in the price of crude oil.
Prices of imported raw soybean oils increased to EGP 14,200 per ton compared to
EGP 11,000 in December, and imported soybean oils from EGP 11,300 to EGP 14,500
pounds, while the price of refined oils witnessed the highest percentage increase, as it
rose from EGP 12,300 to EGP 15,500 pounds, an increase of EGP 3,200.
The large increase in prices comes due to the high demand in the recent period, with
a decrease in stock at major factories, coinciding with the return of the Supply
Commodities Authority and also changing global prices.