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Tag: Ethiopia

Ethiopia, IFAD signs US$106.4M grant agreement to boost sustainable agriculture

ETHIOPIA – Ethiopia and International Fund for Agricultural Development (IFAD) have signed a grant agreement of US$106.4 million for the implementation of the participatory Agriculture and Climate Transformation (PACT) program in the country. According to Ethiopia News Agency, Ahmed Shide, the Minister of Finance, and Sara Mbango-Bhunu the IFAD Regional Director of the Eastern and Southern Africa Division, signed the…

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USDA forecasts wheat production in Ethiopia to jump 27% to reach 7MT in 2022/23

ETHIOPIA – Ethiopia’s wheat production is expected at 7 million tonnes for the 2022/2023 season according to the latest forecast by the United States Department of Agriculture (USDA). Ecofin Agency, citing USDA reports that the forecast volume would mark an increase of 27% compared to the stock of 5.7 million tonnes produced during the previous campaign, signing a new record…

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Ethiopia to harvest 4 million tonnes of wheat in 2023 as plans to expand digital extension services get into high gear

ETHIOPIA – It’s yet another bumper season for farmers in Ethiopia with the country expected to harvest about 40 million quintals (4 million tonnes) of wheat during the ongoing harvesting season, according to Prime Minster Abiy Ahmed. The Prime Minister revealed this during the 11th regular session of the House of People’s Representatives, where he went ahead to reveal that…

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Ethiopia to distribute 25,300 tonnes of climate-resistant seeds, receives funding to boost production for the 2023/2024 season

ETHIOPIA – Ethiopia has embarked on an aggressive agricultural expansion drive with Agricultural Businesses Corporation (EABC) committing to distribute 253,000 quintals (25,300 tonnes) of seeds this coming season, ENA has reported. The Ethiopian Agricultural Businesses Corporation (EABC) is a public enterprise established in December 2015 that provides agricultural inputs and technologies to improve production and productivity. It is also mandated to boost modern…

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Ethiopia’s revenues from oilseeds, grains export rises to US$250M in seven months

ETHIOPIA – Ethiopia continues to thrive in agricultural trade as the country earned more than US$250M from oilseeds and grains export in the past seven months, the Ministry of Trade and Regional Integration has disclosed. Oilseeds are the third most important export item in Ethiopian foreign trade with three major oilseed crops (sesame, soybean, and niger seed) contributing to nearly 20% of…

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Ethiopian Commodity Exchange receives FAO support to incorporate wheat into trading systems

ETHIOPIA – The Food and Agriculture Organization (FAO) has donated 2.5 Million Birr (US$ 50,000) to Ethiopian Commodity Exchange (ECX) in support of the initiative to incorporate wheat into the contemporary trading system. ECX noted that wheat was one of the two crops traded when the Commodity Exchange was in operation 15 years ago. With the support of FAO, the…

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Ethiopia embarks on a program to feed neighbors after achieving wheat self-sufficiency

ETHIOPIA – Ethiopia has achieved wheat self-sufficiency after harvesting over 110 million quintals (11 million tonnes) of the crop during the first six months of the fiscal year, according to the Ministry of Agriculture. Meles Mekonnen, the state Minister for Agriculture added that at least 52 million quintals of additional harvest are also expected in the remaining months as more…

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East Africa’s wheat prices to remain high on sharp drop in Ukrainian production

EAST AFRICA- The Economic Intelligence Unit (EIU), the research and analysis division of the Economist Group, is forecasting higher wheat commodity prices for East African countries due to their high reliance on Ukraine. According to EIU, while demand may slow, supply won’t rise high enough to put enough downward pressure on prices, following a sharp decline in grain production in…

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Norfund invests US$21M in SAMANU to boost edible oils production in Ethiopia

ETHIOPIA-Norfund, the Norwegian Investment Fund for Developing Countries managed by 54 Capital, has announced a US$21 million growth capital investment into Ethiopia’s largest Fast-moving consumer goods (FMCG) platform SAMANU. SAMANU is a platform company with well-established brands operating in Ethiopia’s main FMCG sub-sectors (Tena Edible Oils, 555 and Aura Soap & Detergents, and Chef Luca wheat products). The investment is…

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Ethiopia adopts wheat irrigation, ramps up fertilizer imports in bid to boost local production

ETHIOPIA – Ethiopia has embarked on an aggressive agricultural campaign seeking to raise the country’s wheat production in a bid to wean itself from exports which are increasingly becoming unreliable.  The country has so far covered 450,000 of the cultivated 800,000 hectares of land with wheat seeds during this winter as part of the country’s wheat production irrigation scheme. The…

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