A scramble for foreign currency by non-abattoir meat exporters has left meat-producing and exporting companies in dire straits. The companies have complained that “unfair business competitions” are crowding them out of the meat export market. The abattoirs accuse the non-abattoir exporters of offering the local market inflated prices and then selling the meat at a lower price just with an intention to generate forex despite making losses. The letter also attributes this year’s poor export performance to the pursuit of foreign currency by individuals involved in the export industry temporarily. The meat export business incurs losses from the outset, excluding operating and other related expenses, industry insiders claim.

Source: Ethiopian News April 15, 2023 16:38 UTC