The Ethiopian Ministry of Finance and Development denied rumors about wheat scarcity on the local market. The Ministry said that it had distributed 8 million quintals contributing to the decline in the inflation of food items for the month of December.

Rumors that a shortage of wheat could translate into a scarcity of bread on the market in the next 2 weeks are unfounded said the Ministry.

There is currently 2 million quintals of wheat in stock and the government intends to supply a total of 4 million quintals to the market within  the first week of the coming February said Haji Mohammed, Head of Public Relations with MoFED.

The government has also acquired 251, 000 qunitals of sugar to supply the market until the first week of February and that it intends to purchase another 300,000 quintals as well as continuing to supply 25,000 tons of oil every month  part of efforts to curb food inflation explained Haji. Oil stocks are currently at 15 million liters he added.

The government’s direct involvement in the market to ensure the ready and study supply of these consumer goods has been instrumental in the consecutive months of decrease in the inflation rate of food products according to Haji.

Source: Capital