Trade Ministry Targets Five Billion Dollar Export Revenue

The Ministry of Trade & Regional Integration has laid out a target of five billion dollars in export revenue for the coming new year in a bid to reel back the lacklustre performance of the ending budget year. Urgessa Baysa, head of Strategic Affairs at the Ministry, indicated that shifts in the management structure, stronger domestic trade linkages and export promotion will help meet the lofty target, which is 1.8 billion dollars higher than the amount attained this year. A sharp decline in the global price of coffee was indicated as the primary culprit by the Ministry's officials as they presented their 11-month report in June, while the flagship commodity still contributed 53pc of the 3.2 billion dollar amount. The price of coffee has been on a worldwide market dive, with a 43pc drop occurring within the past month as Brazil rebounds from a supply slump caused by climate hazards. Coffee exporters have expressed anxiety over the sudden dip in prices, with the Ethiopian Coffee Exporters Association dispatching a letter imploring its members to dispose of their inventory as quickly as possible.



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