Ethiopian Review

Addis Ababa, Ethiopia – The Ethiopia Grain Trade Enterprise (EGTE) disclosed that it has finalized to prevent rise in the price of maize and wheat that could occur during the rainy season. Over 2.5 million quintals of wheat and maize have been stored in warehouse.

Enterprise General Manager, Berhane Haile told WIC that the enterprise will consolidate its endeavor to stabilize the market raising the maize and wheat supplies until the coming December, 2010.

The enterprise set plan to stabilize the market as it obtained the information that few illegal traders begun hoarding wheat and maize assuming that the price would go high during the rainy season, he said.

He also said the enterprise will also consolidate market stabilizing activities raising maize and wheat supply to 120,000 quintals in the mid of this month from 90,000 quintals earlier.

The enterprise has also finalized preparation meant to ease the souring price of maize by supplying some 100,000 quintals of maize through public sale, he indicated.

The enterprise has so far supply 90,000 quintals of wheat to auction every two week, while it has decided to raise the volume of the wheat being supplied to auction to 12,000 quintals beginning this month.

Meanwhile, the enterprise has also finalized preparations to supply 100,000 quintals of maize to auction, he added.

- ENA