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{
    "id": 1255390,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1255390/?format=api",
    "text_counter": 129,
    "type": "speech",
    "speaker_name": "Hon. Kuria",
    "speaker_title": "The Cabinet Secretary for Investments, Trade and Industry",
    "speaker": {
        "id": 13160,
        "legal_name": "Moses Kuria",
        "slug": "moses-kuria"
    },
    "content": "Mr. Speaker, Sir, when we started this importation, there were even cartoons in the media. There were jokes and memes going around in social media about the price of edible oil. It was said to be among the most expensive things to buy. By that time, one litre of edible oil around the first week of December when I addressed the Kenyan Union of Manufactures (KUM) about this issue, was Kshs400 per kilo. At that time, on my first day of work, speaking at the Kenyatta International Convention Centre (KICC) after being sworn in, I told the edible oil industry that that was unacceptable and unsustainable. I asked them to do whatever it takes to ensure that we have a level playing field and that the price of edible oil comes down. I instructed KNTC to import edible oil with a target that one kilo of edible oil would retail at Kshs250. Therefore, because of only 170,000 jerry cans, the price of edible oil today has dropped to Kshs218 per litre. Mr. Speaker, Sir, at the time I gave that instruction, the US Dollar was going for Kshs125. Today, it is hovering in the region of Kshs140, yet the price of edible oil has dropped to Kshs218, to the relief of so many Kenyans. What is the problem with the edible oil industry? The problem is that 55 million Kenyans depend on five companies. If the five companies collude and decide to poison us, all of us will be in deep trouble. These five companies are Bidco and I will talk about them later. The other companies are Kapa Oil Refineries, Pwani Oil, Menengai and Golden Africa. These companies engage in what they call their own version of value addition."
}