-Exporters must get full payment before shipping– Experts are worried the move would hurt the country’s competitivenessThe National Bank of Ethiopia (NBE) orders exporters of beef to cease shipment under a consignment payment arrangement. “Under consignment, exporters were getting paid on time, and it made up the vast majority of exports, which caused the country to lose much-needed foreign exchange,” the letter reads. Managers of the Association of Meat Producers and Exporters were happy with the central bank’s decision to cease exports of meat to other countries on consignment. Managers of the Association of Meat Producers and Exporters were happy with the central bank’s decision to cease sending meat to other countries on consignment. Under the consignment payment mechanism, producers were not allowed to export beef abroad if they did not get paid within 90 days, according to him.

Source: Ethiopian News January 29, 2023 02:27 UTC