2merkato

Ethiopia is to increase its import of palm oil and sugar in the next budget year. The government plans to increase the import of palm oil by 56% and sugar by 11% according to the Ministry of Trade.

The decision to increase imports was reached with two thirds of the previous imports still in stock at various warehouses operated by the Merchandise Wholesale and Import Trade Enterprise.  

A change in the size of containers from larger 20 liter jerry cans to smaller 5 and 10 liter ones in the next round of imports is expected to solve issues with distributing oil seen said sources.

The export of coffee from Ethiopia has declined by 38% in the first eight months of the financial year, as compared to the same period  last, according to data from players in the sector.

The Ethiopia Commodity Exchange has consequently eliminated the 5% +/- price range for coffee intended to regulate against price fluctuations on the international market last week.

The range will not be applicable on the trading floor of  Exchange until the price of coffee stabilizes on the international market said Dr. Eleni Z. Gebremedhin, Chief Executive of the ECX.

Ethiopia has issued a new international tender for the supply of 35,000 tons of milling wheat according to traders in Europe.

The deadline to offer bids for the invitation is the 29th of March. The tender did not specify the origin of the wheat but shipping is requested by the 7th of May said the traders.

Ethiopia is in the process of evaluating a previous tender for a similar purchase of 35,000 tons of wheat, which closed on the 15th of March. The deadline for the bids was extended at that time explained traders.

The purchase of the milling wheat tendered is being financed by international aid agencies in both instances according to the European Traders.

Source: Reuters

Ethiopia has earned more than 17.4 million USD from Valentine’s Day flower export, Ethiopian Horticulture Development Agency (EHDA) said.

The revenue was secured from the export of 195.6 million flower stems to the international market in this year’s Valentine’s Day celebration.

Unlike same time last year, the flower export during this year’s Valentine’s Day exceeded in quantity as well as in terms of revenue. 

Last year’s Valentine’s Day celebration, the country earned 17.1 million USD from the sale of 187.7 million flower stems. The amount secured has been increased by more than 300,000 USD this year. This is due to the increasing demand for Ethiopian flowers regardless of the harsh weather condition witnessed in most of Europe.

The Netherlands, Norway, Germany, UAE, Saudi Arabia, Japan, UK, Italy, France and Lebanon were the first top ten recipients of Ethiopian flowers in the reported period.

Ethiopia is still enjoying an increased demand for its flowers in Europe, Asia, Middle East, Far East and other parts of the world. Thus, the Ethiopian Horticulture Development Agency has carried out market promotion activities to widen market opportunities.

With the intention of penetrating the American vast flower market, EHDA and the Ethiopian Horticulture Association in collaboration with Metropolitan Washington Air Ports Authority have been taking part in the International Floral Trade Exhibition in New York and Washington DC.

With regards to private investment in the sector, more than 110 local and foreign companies have already been engaged in the development of flowers, fruits, vegetables and herbs, according to the Agency. 

The nation has secured 134 million USD from the horticulture industry sector over the past seven months in the current Ethiopian fiscal year. Flower export takes the lion’s share out of the stated amount of money generated.

Source: This news article was prepared and sent to 2merkato.com by Mekonnen Hailu, Ethiopian Horticulture Development Agency (EHDA)'s senior communication expert.