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High cooking oil price needs local solution-Mulenga

Commerce, Trade and Industry Minister Chipoka Mulenga  says the escalating prices of cooking oil can only be halted when the country becomes self sufficient in production of crops used in manufacturing the product.

Mr. Mulenga  says Zambia should grow a lot of cotton seed, soya beans and sunflower which are some of the raw materials used in manufacturing cooking oil.

He notes that Zambia has vast land which should be exploited to grow the crops.

He says currently, Russia and Ukraine, the major producers of crops used in the manufacturing of edible oils are at war thereby affecting global supply resulting in escalating prices.

Meanwhile, Mr. Mulenga  said the several court cases that ZCCM Investment Holdings is pursuing against major mining companies has stifled investments into the sector.

He said this is why the government wants the matters resolved outside court to unlock investments which will lead to reinvestments and job creation for citizens.