Page 3 - Print Version Volume 22 - Number 1126
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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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