WITH the appreciation of the Kwacha and improved supply of sunflower from Ukraine on the international market, the price of cooking oil in Zambia has reduced remarkably, with the essential commodity fetching in the range of K205 and K194 per five-litre container in surveyed supermarkets.
The price of cooking oil had skyrocketed early this year to as high as K265 for a five-litre container due to the depreciation of the Kwacha and distortions in the sunflower supply chain caused by the Russia-Ukraine war.
The Kwacha has appreciated significantly over the past few months, taking a leap last week after the country sealed a US$1.3 billion loan deal with the International Monetary Fund, to trade at K15 and K15.40 on bid and