Corporation Records Consecutive Sales Slide

Feb 20 , 2021

The Ethiopian Trading Businesses Corporation reported a 43pc dip in sales for the second year in a row. The report, which pertains to the first half of this fiscal year, details that approximately 2.2 million quintals of basic consumer goods have been sold for 2.3 billion Br. Over 93pc of the recorded sales were domestic, while exports accounted for the remainder, achieving an overall 41pc of the amount targeted. A significant decrease in the amount of wheat, distributed to regulate market prices, was attributed as a major cause behind the decline, according to a statement from the Corporation. Though the Corporation had planned to distribute over 3.3 million quintals of wheat to the market, it only managed to present 302,000ql due to failures of large-scale wheat import purchases. In a bid to stabilise the market, it had provided 2.1 million quintals of coffee and other grains, wheat, fruits and vegetables, as well as raw materials for various industries.