Trade Bureau says most food prices remain stable

Trade Bureau says most food prices remain stable Trade Bureau says most food prices remain stable

Despite the current unrest impacting the smooth flow of trucks bringing agricultural products to Addis Ababa from the Amahara and Ormia region, the Addis Ababa Trade bureau said that the violence has not brought many price increases.

According to the bureau only Neche or white teff has gone up. Its price rose one hundred birr per quintal since the Irreecha fatalities.

The price of onion, potato, orange, and banana remain stagnant while the price of garlic and barley each went down five birr per kilo.

Yoesph Tadesse, Trade Regulation expert of the bureau told Capital that the impact of the unrest on inflation has not been as feared.

“It is obvious that Addis Ababa is the direct of victim of any violence happening outside of the city because all the agricultural food is imported from regions but we have not seen any exaggerated price increases in all goods in relation to the recent unrest.’’

‘’Any one can be the witness about the market stability, they can go to Merkato, Atkilt Teraa, Shola Gebya to see that what we have said is true.’’ He added that the bureau is working with legal task officers to protect the market from hoarding.

“So far we have not gotten business people who hoard products for a future better price but we are receiving comments from people who said hoarding has taken place in the city and we are closely working with legal task officers to check the market.’’

In related news prices have spiked in the Netherlands for products such as fine beans and exotic vegetables due to the disruption in supply from Ethiopia, with Kenya and Zimbabwe helping to fill the immediate sourcing gap.

FV SeleQt director Bas Rensen said that around 20 international firms have been affected, with a vegetable grower and packer for the company having halted production and exports a week ago after being attacked. Reuters reported that Dutch juice firm africaJUICE in Oromia, flower grower Esmeralda Farm and Indian company Fontana Flowers in the Amhara region have also been affected.

“We need to wait before we know what the actual damage is, but initial pictures have shown they burnt the pack house. Deliveries have stopped and the whole project is on hold,” Rensen told FPJ.

To fill in the supply gap of products such as fine beans, peas and exotic vegetables, FV SeleQt has turned to Kenya and Zimbabwe, with the Guatemalan season about to begin. At this time of year, Ethiopia usually accounts for between five and 10 per cent of the company’s fine bean and exotic veg supply.

Prices have already gone up at auctions in the Netherlands as a result of the disruption, Ransen continued, and FV SeleQt has had to organize last-minute plantings in Kenya and Guatemala to cover supply for the Christmas production.

“There are security issues on the roads and at the site, so we have not sent any manager or director there yet. We are in contact with the Ethiopian government to ask for security support, and they are doing everything they can,” he said. 

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Latest news, Ethiopian News, Yoesph Tadesse, Trade Bureau

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