Ethiopia Minister of Trade, Kebede Channie, on Thursday said the East African nation has generated $700 million from the export of grains, oil seeds and spices during the last fiscal year.
Speaking at the beginning of a 3rd annual conference of grains oilseeds and spices exporters association in Addis Ababa, Channie said: “$700m of the $3b export revenue collected in the past budget year came from grains, oilseeds and spices, adding that the grains, oilseeds and spices sector will achieve the target set in the Growth and Transformation Plan (GTP).’’
Asian countries, most notably Singapore, are the major importers of Ethiopian spices and grains.
Ethiopian Economy and Finance Cluster Coordinator and Deputy Prime Minister, Dr Debretsion Gebremichael stated that the government is committed to strengthening its support for the agricultural sector, which accounts for 46 percent of GDP and employs 80 percent of its labour force.
The country sources most of its agricultural revenues through exports of the commodities by local processing companies which are under quality control and supervision of the government.
