Amidst the teff price reaching an all-time high, Injera exporters are hoping for a minimum floor price adjustment to use as a springboard for increasing prices to overseas markets.

Under the Injera Bakers & Exporters Association, eight companies have reached out to the Food & Beverage Industry Research & Development Centre this March to conduct a study that considers keeping their profit margins while maintaining the relationship with international buyers.

The central bank set the price floor for Canadian and US markets to 1.20 dollars and 1.35 dollars respectively last year. However, exporters cite the skyrocketing price of teff which hovers around 10,000 Br for a quintal coupled with logistic hurdles as a ground for an adjustment.

Tewedros Asres, head of the Association, believes a floor adjustment will serve exporters engaged in cutthroat competition and focus on quality to penetrate the market.

"The price of teff has doubled since then," he said.

The Centre conducts studies and forwards a recommendation to food and beverage industries with hopes of addressing their concerns. Considering the economic conditions and current business climate it has completed a two-month study which will be up for discussion with stakeholders this week.

According to Bekele Mekuria, general manager, the study suggests setting a price floor for countries in the Middle East and Europe which were not included before. He said the price floor should include all destinations while the amount will be based on their respective distances.

"This would help them make a profit," said Bekele.

He believes setting a floor price for exports helps increase foreign currency earnings.

Injera exports have garnered 28 million dollars in the past eight months, according to Minster of Industry Melaku Alebel.

A quintal of Teff yields close to 800 pieces of Injera and is sold at prices depending on the quantity of order, quality of the injera and shipping costs with the United States being the number one importer.

According to data from the Ethiopian Statistics Services, over 56 million quintals of teff were harvested from 2.9 million hectares of land, with Amhara and Oromia regional states contributing more than half. The transport hurdles at the borders of the regional states were cited as a major factor for the increased price of teff in the local markets.