Fed Allocates $60m to Agrochemical Procurements

Aug 13 , 2022


[ssba-buttons]

Officials at the Ministry of Agriculture have set aside 60 million dollars to be used for the procurement of agrochemicals, including fertilisers, for this year's harvest season.  The sum is a fraction of what the federal government spent buying fertiliser from international suppliers last year. The state-owned Ethiopian Agricultural Businesses Corporation paid 650 dollars a tonne for 780,000tn of fertiliser supplied by the Morocco-based OCP Group. FertiGlobe, an Abu Dhabi-based firm, supplied half a million tonnes for close to 1,000 dollars each.  Fertiliser prices in the global market have been soaring since 2020, but Russia's war in Ukraine pushed them to new highs. Smallholder farmers in Ethiopia faced retail prices of up to 4,900 Br a quintal last year, nearly triple what they paid the year before. Over eight million smallholder farmers are affected by soaring fertiliser costs. Ministry officials say 96pc of the fertiliser procured last financial year has been distributed. Farmers in the Tigray Regional State are not among the recipients. The Ministry will soon begin collecting needs assessment from regional administrations to launch the next round of procurement procedures.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...