CAIRO - Egyptian Supply Minister Ali Moselhy said on Thursday the price of subsidised vegetable oil will increase to 25 Egyptian pounds ($1.60) per 1-litre bottle, adding that it could be brought down if inflation cools.
The country's reserves of vegetable oils are sufficient for five months, he told a news conference in Cairo.
The government raised in June the price of subsidised vegetable oils by 23.5% to 21 Egyptian pounds per one litre bottle, following a jump in raw material costs globally.
($1 = 15.6600 Egyptian pounds)
(Reporting by Sarah El Safty and Nadine Awadalla, writing by Maher Chmaytelli; Editing by Toby Chopra) ((firstname.lastname@example.org;))