CAMEROON BANS CHEAPER IMPORTED VEGETABLE OIL

Cameroon says it is banning and destroying cheap vegetable oil imported from Indonesia and Malaysia to protect its home industries. The central African nation says thousands of workers may lose their jobs if the country continues to import cheaper vegetable oil.1305780002598

Orilius Mbui, an official of Cameroon’s agro-industrial company the Cameroon Development Corporation (CDC), said the jobs of about 16,000 employees in six oil palm estates are threatened as a result of what he calls the unhealthy competition domestically produced refined vegetable oil faces.

He said after examining the situation, Cameroon’s prime minister ordered that imported vegetable oil must sell at about $3.00 per liter, which is about a $1.00 per liter more than domestic oil. If it does not sell at that higher price it will be seized.

“There were certain norms that were set indicating that oil that is imported into this country must be at the value price of 1,500 francs (about $3.00) and that oil must be in specific containers and it must have vitamin A. But of recent we have noticed that oil has been imported at prices lower,” Mbui said.

Source:voa

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