Ethiopian government is to lift ban on importation of palm oil by private companies starting from August 6, 2015, Addis Fortune reported.

The government has been reexamining its decision of the ban on importation of palm oil by private companies since May 2011.

The previous major importers of palm oil like Get-AS International, Camel Trading Enterprises and Country Trading are still excluded from importing.

According to Kebede Chane, Minister of Trade, beneficiaries on the lift of the ban are companies that are in the edible oil manufacturing sector or in the process of implementation. These companies are also privileged to access foreign currency for the import.

At this stage, Ministry of Trade (MoT) has chosen five private companies to engage in the importation of oil; AHFA PLC, Biftu Adugna Business S.C., Al-Sam International, Belayneh Kindie Import & Export (BKIE), and Hameressa Edible Oil S.C.

Moreover, Wondo Trading & Investment Plc, Guna Trading House Plc and Ambassel Trading House Plc, will also join the business. Alle Bejimla, the state-owned wholesaler, will also take part in the import.

Source: Addis Fortune