2merkato

OTC Markets Group Inc announced today that Ethiopian Potash Corp., a Canadian mineral exploration company, was now trading on the highest tier of the OTC market, OTCQX.

Ethiopian Potash began trading today on the OTC market's prestigious tier, OTCQX International.

"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," said R. Cromwell Coulson, president and CEO of OTC Markets Group. 

Steel rolling mills in Ethiopia are going to be prohibited from importing billet (semi finished steel).
There are eight steel rolling mills in Ethiopia which import billet.

The Ministry of Finance and Economic Development decided two weeks ago to ban the billet imports and assign a state enterprise to import the billets and distribute them to the rolling mills.

The Yirgachefe Coffee Farmers Cooperatives Union said it was planning to earn over 7 million dollars from the export of coffee during the current fiscal year.

The union hopes to earn the 7 million dollars by exporting more than 1,100 tonnes of coffee to the United States, Australia, Japan, South Korea and Europe, Takele Mamo, general manager of the union, said yesterday.

Ethiopia earned 841.6 million dollars from the export of about 200,000 tonnes of coffee in 2010/2011 fiscal year. The country is planning to raise its coffee production to 700,000 tonnes from 300,000 tonnes over the coming four years.

Experts said that the increase in the quantity of coffee exported from Ethiopia was due to the introduction in 2008 of a commodity exchange market, which promoted transparent trading, and rising global commodity prices.