In the last nine months of the 2015 fiscal year, ETBC distributed 2,877,560 quintals of products and services worth 9,046,004,247 Birr in domestic and foreign markets and achieved 90 percent of the plan in terms of quantity and 79 percent in terms of value. The corporation's sales volume is 40 percent higher than the same period of the 2014 fiscal year. 99.14% of the total sales revenue is from domestic sales and the remaining 0.86% is from exports.
The corporation distributed 2,877,560 quintals of goods and services valued at 9,046,004,247 Birr in the last nine months of the fiscal year 2015, meeting 79 percent of the plan's value and 90 percent of the plan's quantity goals. Sales volume for the corporation is up 40% from the same period in the previous fiscal year. Domestic sales account for 99.14% of overall sales revenue, with exports accounting for the remaining 0.86%.
The corporation distributed 2,832,037 quintals of products and services worth 8,713,617,305 Birr to the domestic market and achieved 92% of the plan in terms of quantity and 81% in terms of value. Domestic consumer products accounted for: 69.1% of grain and coffee, 14.7% of cooking oil, 6.7% of consumer goods, 5.27% of construction materials, 4.1% of fruits and vegetables, and 0.1% of sales of procurement services.
Regarding foreign sales, in nine months, 6,577 quintals of various grains, pulses, oilseeds, coffee and fruits were sold, earning 1,484,488 US dollars.
The corporation offered the public products through domestic marketing in the first nine months of the fiscal year at a discount from the free market price in addition to its efforts to prevent supply shortages by selling the goods it purchased from manufacturers directly to consumers at reasonable prices. It is estimated that if the corporation sold the product worth 7.57 per lion to the public at the current market price, it would have cost 12.24 billion. As a result, it has been observed that the total product sold by the corporation in the last nine months has decreased by 4.67 billion from the market price.
The Ethiopian Government received more than 57 MT of rice provided by the Japanese government as part of its “Food Assistance Program” on 16 May 2023 through Ethiopian Trading Businesses Corporation. The handover ceremony of the 300 million ETB worth Japanese rice was carried out in the presence of HE Ms Ito Takao, Ambassador Extraordinary and Plenipotentiary of Japan to Ethiopia; Semerta Sewasew, State Minister of Ministry of Finance and Ato Acha Demisse, CEO of ETBC.
During the event it was stated that the aid aims to help increase food stock to be supplied to people affected by such as internal displacements, drought and floods. Ambassador Ito stated the aid will be distributed for the public at affordable prices.
“Food security is not only a concern for Ethiopia, but it has now become one of the largest global challenges. Soaring energy and food prices, climate change, biodiversity loss, and armed conflicts, especially Russia's war of aggression, have disrupted global food systems, including production, as well as fertilizer and energy supply chains, exacerbating food insecurity and worsening malnutrition, particularly in Africa and the Middle East” she said. She also expressed her belief that the aid would help reduce the need to import rice from abroad.
HE Semereta Sewasew stated during the event that the two countries have had long ties and that the provided aid helps strengthen the current relationship between the two countries.
Acha demise, CEO of ETBC, on his part stated that the corporation is fully prepared to distribute the provided aid within a short period of time.
The Ethiopian Trading Businesses Corporation held a foundation-laying ceremony on Saturday, March 1st, 2023, for the construction of a building complex with cold store and in Akaky Kality Sub City, Addis Ababa. The construction project comprises of a cold store that preserves various fruits and vegetable products the corporation supplies to its customer, and a ten-floor building complex that features a supermarket, laboratories and parking lots, among others. The 1.3 billion birr construction project is expected to be finalized in four years.
The facilities and associated technologies to be deployed in the building aim at enhancing the fruits and vegetable trading business of the corporation maintain and delivery diversified quality products to consumers.
During the opening of the foundation-laying ceremony, Ato Acha Demisse, CEO of ETBC said that the corporation is exerting its utmost effort to satisfy the demands of its customers through supply of basic consumer products at affordable prices throughout the country. He said that, through its fruits and vegetable trading business, the corporation has long served its customers by supplying a variety of locally produced fruits and vegetables and, in light of that, the construction of the new cold store as well as associated modern technologies help reach customers with quality and products by allowing for extended shelf life of products in larger stocks.
“The construction of the facility and its built-in technologies also help local producers earn better incomes for their produce,” he said.
Ato Hassan Muhumed, Chair of ETBC’s Board of Ditectors, urged those involved in the construction project to deliver their unreserved effort towards the successful completion of the project and assured the Board is ready to provide any support for the successful implementation of the project.
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The Ethiopian Trading Businesses Corporation had planned to procure 1.87 million quintals of grains, coffee, fruits, vegetables and consumer goods in the past eight months of 2015 fiscal year, and was able to fulfill 71 percent of the plan by procuring 1.33 million quintals. In the eight months period, ETBC planned to supply 2.52 million quintals of production in the domestic and foreign markets and 2.48 million quintals (98 percent) of the plan was achieved. Market-stabilizing produce distributed over the reporting period mainly include 33,371 quintals of tef, 1,408,468 quintals of wheat, 11,786,706 liters of cooking oil, as well as 573,364 quintals of cement. |
In order to stabilize the market by reducing the shortage of product supply and inflation in the war-affected areas of Dessie and around it, ETBC has delivered 1600 quintals of tef, 76,160 liters of edible oil, 400 quintals of wheat flour, 400 quintals of rice, 700 quintals of pasta and macaroni, and 100 quintals of salt.
The products are being sold at reasonable prices to the community in residential areas through marketing centers of the Corporation. The product is supplied in areas of Alamata, Raya Alamata, Korum Woreda Administration (Wofla), Kobo Sarra, Rayakobo, Raya Bala Woreda, and Korum town. In the market price research conducted by the corporation, the current market price of the products compared to the corporation's selling price is lower and beneficial to the local society, according to Ato Usman Seid, head of the Ethiopian Trading Corporation coordination branch in Dessie.
Similarly, the corporation has been working to deliver consumer goods to Amhara regional state towns like Setit Humera, Wolkait Woreda, Adi Remet, Dansha and residents of north Gondar Zone who are affected by the war.
