Page 3 - Print Version Volume 22 - Number 1126
P. 3
Fortune Vol. 22 No. 1126 Nov. 28, 2021 AGENDA Page 3
5.0% THE NUMBERS 0.30%
Coffee (Arabica) $/kg Oil US $/bbl 7.8% Ethiopian Birr/US $
5.39
72.72 48.7718
grain used to make staple food. Beza markets, he disclosed.
Daniel is convinced this is the best way
offered a kilo of white-and-brown to create a stable market, particularly
for food items. He brushes aside
mixed teff for 44 Br, six Birr less concerns that the initiative could
than the average retail price, while have consequences to retailers across
the city.
teff flour from its mill went for 48 “It's a competition," he told Fortune.
Br a kilo. "Traders have to realize consumers
have choices."
This is in sharp contrast to prices The private sector also seems to be
for the staple grain that have been taking note of the market's apparent
ballooning over the past three years success. Jorka Event Organiser,
from around 20 Br a kilo in 2018. incorporated in 2012, held an event
A drop in production is partly to dubbed 'Asbeza Bazaar' a month ago
blame as teff yields fell by nearly at the Addis Abeba Exhibition Centre.
four percent to 55 million quintals The bazaar, organised with the Trade
last year. Bureau, ran along similar lines to
the Sunday markets. Shoppers paid
The militarized conflict raging in a 30 Br entrance fee to buy goods at
relatively discounted rates.
the country's north, where a large Close to 100 traders, 40pc of whom
came from India, participated. The
amount teff farming takes place, has event lasted five days, and nearly
exacerbated the situation. 50,000 attended, disclosed Tadesse
Tamerat, public relations director
Cooperatives are not the only actors This truck is loaded with sacks full of onions belonging to Beza Cooperative, one of the 148 operating in Addis at Jorka.
doing business at the Sunday markets. Abeba. The cooperative is under one of the 10 unions in the capital, which received half a billion Birr in loans "There's a massive demand for these
Private companies are also looking to events," Tadesse said.
get a slice. from the City Administration as part of the Sunday market initiative. Jorka plans to organise a similar
bazaar every two months, with the
Omotic General Trading Plc, benefited from their presence in says Assefa Admassie (PhD), an as a means for market stabilisation next scheduled in the coming weeks.
established in 2006, was present these markets. agricultural economist. with plans to expand them further. Consumers like Meseret could be
selling bananas sourced from Arba Improving accessibility is their relieved to hear that the Sunday
Minch under its Omotic Organic When the Trade Bureau announced its Assefa sees the fundamental cause priority, according to Mulatu Tsigie, markets will continue though only
Foods brand. The company offers a plans to organise the Sunday market lies with productivity and not in the deputy head of the city’s Cooperative time will tell if they serve as an
kilo of the fruit for 14 Br less than the last month, its officials did not plan supply chains. Agency. effective tool for rising living costs
average retail price of 35 Br, selling as to hold it weekly. The demand from or simply a band-aid providing
much as 900Kg on market day. consumers and vendors' enthusiasm "Local production is not enough to “We've received a lot of feedback temporary relief from a much larger
forced them to reconsider installing satisfy demand,” Assefa said. “The from consumers about the problems problem.
A wholesaler, Omotic normally the markets every Sunday in the more you make products available, with accessibility,” said Mulatu.
sells bananas for 22 Br a kilo but Mexico, Megenagna, Qality, Piassa, the less power middle guys and
consented to requests from city and Jemo areas. brokers would have in manipulating His office is working on adding 10
officials to take part in the Sunday the prices of goods.” locations to the list. There are other
market as a retailer. It is an initiative commended by the plans in the works as well.
pundits, for it is seen as an efficient According to the agricultural
“We don’t sell here for profits,” said way to bridge the gap between economist, promoting a commercial According to Daniel Miesa, head of
Adnan Selman, manager of Omotic producers and consumers and cut mindset among farmers is key to human resource development and
Organic Foods. the middle guys out. However, Sunday boosting the production of crops in leadership at the Trade Bureau, the
markets on their own would not be high demand. market will move off the streets once
Nonetheless, the vendors have a remedy to the rising cost of living, the goals are met. The Bureau plans
The authorities, however, are intent to find permanent venues for the
on continuing the Sunday market
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