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Ethiopia had an average inflation rate of 26% in 2021 and 30% in 2022, something that was largely driven by a rise in food prices; [27] in February 2023, the overall inflation rate reached 32%, [28] and Ethiopia continued to experience high inflation by September 2023, with commonly purchased food items becoming more expensive. [29]
Eleni Gabre-Madhin at ECX. The Ethiopia Commodity Exchange (ECX) is a commodities exchange established April 2008 in Ethiopia.In Proclamation 2007-550, which created the ECX, its stated objective was "to ensure the development of an efficient modern trading system" that would "protect the rights and benefits of sellers, buyers, intermediaries, and the general public."
Coffee harvest in Ethiopia. Coffee, which originated in Ethiopia, is the largest foreign exchange earner. Agriculture accounted for 50% of GDP, 83.9% of exports, and 80% of the labor force in 2006 and 2007, compared to 44.9%, 76.9% and 80% in 2002–2003, and agriculture remains the Ethiopian economy's most important sector. [7]
BrucePac, which supplies ready-to-eat meat and poultry products to restaurants and institutions, has recalled an astonishing 9,986,245 pounds of meat products.
4.9 million tons of sorghum (4th largest producer in the world) 4.2 million tons of wheat; 2.1 million tons of barley (17th largest producer in the world) 1.8 million tons of sweet potato (5th largest producer in the world) 1.4 million tons of sugar cane; 1.3 million tons of yam (5th largest producer in the world) 988 thousand tons of broad bean
In 2010 World Bank approved a plan to devote $150 million to the Ethiopian government ($108.4 million of which as credit and $41.6 million as a grant) "to support increased agricultural productivity, enhanced market access for key crop and livestock products, and improved food security".
The high-value oil seeds cultivated in Ethiopia for exports accounted $446 million while fruits and vegetables accounted $538 million in 2017. [1] Coffee has been the most exported product of Ethiopia. Over 15 million workers involved to cultivation and processing. In 2016/2017, annually export revenue estimated about $881 million.
As of June 2011, 1 kg of raw chicken feet costs around 12 to 16 yuan in China, compared to 11–12 yuan for 1 kg of frozen chicken breast. In 2000, Hong Kong, once the largest entrepôt for shipping chicken feet from over 30 countries, traded a total of 420,000 tons of chicken feet at the value of US$230 million. [ 3 ]