Khaberni - Yinal Barmawi, the spokesperson for the Ministry of Industry, Trade, and Supply, stated that the ministry did not set any prices or price caps for olive oil.
Barmawi explained in television statements on Monday that what happened during the past period was coordinated collaboration between the Ministries of Agriculture and Industry and Trade to secure coverage for the expected shortfall in this season's production.
He clarified that this coordination contributed to market stability and prevented olive oil prices from reaching the high levels that were being discussed at the beginning of the season, pointing out that the measures taken were to ensure meeting the needs of the local market and preventing any imbalances in the availability or prices of goods.
Barmawi confirmed that the ministry is closely monitoring market movements to maintain price stability and protect consumers, without resorting to fixing prices or establishing price ceilings, adhering to the market competition mechanisms that regulate prices.
