2merkato

The Ministry of Agriculture in Ethiopia is to build silos in 11 drought prone areas to enhance the nation’s food reserves.

The ministry currently operates 7 silos across the country with the total increasing to 18 once the new silos are completed.

MoA has finalized the feasibility study, site identification, and soil study to launch construction on the silos according to information from the ministry.

The year on year inflation rate in Ethiopia rose to 36.3% in February from 32% in January according to official statistics revealed yesterday.

As compared to the same month last year, food prices showed an increase of 47.4% while non food inflation showed an increase of 21.4%.

The main increase in food prices was seen in the prices of fruits and vegetables, cereals, pulses and spices according to the official agency.

Ethiopian Airlines, Ethiopia’s flag carrier, announced the launch of nonstop flights to Seychelles from Addis Ababa beginning on the 1st April of 2012.

The airline is pleased to begin services to Seychelles famous for its beauty and the home of two UNESCO designated World Heritage Sites; the world’s largest raised coral atoll and Praslin’s Vallée de Mai, said to be the site of the original Garden of Eden according to Tewolde Gebremariam, Chief Executive Officer of Ethiopian.

Ethiopia is to subcontract the management of MEWIT, Merchandise Wholesale and Import Trade Enterprise operated by the state according to sources. The move is part of efforts to stabilize the market.

The Ethiopian government has been considering multinational corporations that are experienced in wholesale distribution, such as Wall-Mart it was said.

A group of experts representing the government have been on a visit to India to review how such companies were attracted in to the market there.