As in 2022, vegetable and seed oil prices will continue to increase over the forecast period. Rising demand combined with a shortage of seeds due to the war in Ukraine and Tunisia’s difficulty importing more oil will all impact unit prices forcing them up.
The government is expected to remove several subsidised products from retail outlets by the end of 2030 and this includes subsidised vegetable oils. With the current economic crisis expected to continue into the forecast period, the Ministry of Trade can no longer afford to pick up the short fall by subsidising essential goods such as vegetable oil.
Edible oil is expected to record double-digit figures both in volume and value growth with demand increasing among all social groups. Upper income and some middle-income consumers are used to cooking with olive oil, but with high prices impacting extra virgin olive oil, they are expected to switch towards cheaper edible oils over the forecast period.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.See All of Our Definitions
This report originates from Passport, our Edible Oils research and analysis database.
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