Ethiopia’s export revenue from oil seeds, pulses and spices took another hit for a third consecutive year as global price falls. The export revenue suffered from the consistent global prices fall which the Ministry of Trade (MoT) and commodity exports plan to avert it by expanding export volume and meeting export targets.
According to Assefa Mulugeta, Director General of the Export Promotion Directorate General at the Ministry, even if the production volume of oilseeds, pulses and spices has increased, the international market has hurt the export performance.
Oilseeds brought 472.6 million USD which is almost 20 percent of the total export earnings of Ethiopia. The performance is of the oilseeds export subsector registered a 37 percent rise in the same period. Yet the improvement in earnings is not as pronounced.
According to The Reporter, compared to the year previous to it, the revenue has failed by 6.24 percent in 2015/2016 fiscal year.
It was only in 2013/2014 that the export of oil seeds, spices and pulses outperformed coffee export and generated 919.9 million USD. The performance made Ethiopia the second largest exporter next to India. During the same year, Ethiopia was the fourth biggest producer in the world.
Source: The Reporter
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