The Ministry of Trade and Regional Integration has reported a notable increase in foreign exchange earnings from Ethiopia’s cereal and oilseed exports, with over USD 156 million generated in the first four months of the current fiscal year.
In a statement, Minister of State for Trade and Regional Integration, Yasmin Wahbrebi highlighted that Ethiopia’s agricultural exports, including pulses and oilseeds, are showing positive growth despite challenges in fully capturing the foreign currency potential that the country’s production capacity offers. The earnings were split between USD 66 million from oilseeds and USD 90 million from pulses. The country achieved over 95 percent of its export target for the period in terms of quantity and revenue generation.
Last year, Ethiopia exported 6.3 million quintals of pulses and oilseeds, generating a total of USD 675 million, in conjunction with the improved export performance.
In similar news, Ethiopia is set to host the 13th International Grains and Oilseeds Conference from November 20 to 21, 2024, in Addis Ababa. The event will bring together representatives from 22 to 25 countries, with more than 110 registered participants so far. Over 430 Ethiopian exporters, producers, researchers, and stakeholders are also expected to attend the conference. The conference is seen as a crucial platform for promoting Ethiopia’s agricultural products to the global market and attracting potential investors.
The Ethiopian government is optimistic that the conference will not only contribute to the country’s export sector but will also have a positive impact on its tourism industry, with international buyers and stakeholders visiting the country for the event.
Source: Ministry of Agriculture
