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Ethiopia shuts Warehouses of Largest Coffee Exporters
By Jason McLure
March 25 (Bloomberg) -- Ethiopia closed the warehouses of the country’s six largest coffee exporters and suspended their licenses after accusing the brokers of hoarding the beans, the government said.
“They have five days to appeal their case,” Ermias Legesse, the state minister of government communication affairs, said by phone from the capital, Addis Ababa, toda
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Ethiopia seizes 17,000 T of coffee from exporters
By Tsegaye Tadesse
ADDIS ABABA, March 25 (Reuters) - Ethiopia seized 17,000 tonnes of coffee from exporters on Wednesday and revoked the licences of six companies accused of hoarding their stocks.
"They refused to comply with government orders to export the beans," Agriculture Minister Tefera Derebew told Reuters.
"It was time for the government to take action."
Tefera said the licences of 88 independent traders had also been cancelled for failing to heed the authorities.
Ethiopia, Africa's biggest coffee producer, prides itself as the birthplace of the bean.
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you can not do buisness by intimidation.The exporters should not be forced to sell their coffee at a loss. The Weyane way of buisness. Meles please Learn from the mistakes of your predessesor Mengstu.
The government needs to show the Ethio-AIGs what time it is!
The Bankrupt weyanes are eating everybody left and right. They are going to confisicate everything to get foriegn currency. The move is designed to scapegoat coffee exporters for the miserable economic situation the weyanes put Ethiopia in to. Ethiopian economic situation is on the verge of total collapse due to hyper inflation and depleting foriegn currency reserve. The economic situation of the west is not helping weyane either. The sun is dowening in weyaneland despite bombastic propoganda.
Those F£%$” should not be garanted their licenses back again. Well done!
This is the beggining of the collapse of the woyane. Unlike the west, a poor country like Ethiopia can’t stand this global economic crisis.
It is not going to be too far to see the collapse of the economy and earth shaking social termoil.
Wait and see!!
Tplf dedebit economists mismanaged our economy to the point of bankruptsy. Now they are blaming exporters for the sorry state of the economy. All bravado aside, the economy is going down due to Tplf incompetence. God save the Ethiopian people.
I am not happy with the economic policies of this government, but this exporters are more greedy than Woyane. They don’t have a little bit of sense of belongingness to their country. This is not what the time requires from the major exporter ( no matter what woyane is doing).
Guys if the Ethiopian economy collapses (if it didn’t collapse yet of course), don’t ever think those in Arat killo will be starved…
Please let us unite around a common purpose.
Yirgacheff-Shaf your are confused man, your Mafia TPLF government is out $s..
The Country’s pain was a gain for the greedy traders and now the traders pain will be a gain for tplf
who is benefiting from this it is not rocket scinece.We should learn to say thanks now is enough.
what made the coffee exporters unhappy about the commodity exchange and why did they prefer it the old way? is their objection genuine or greed. we all know that coffee exporters are the richest people in ethiopia while those who produce the coffee struggle to survive.
Free enterprises to some may mean unhindered looting. These traders are robbing the farmers, the country and playing games with the law of supply and demand. They deserve to lose their licenses.
It is a good measure on those selfish cofee traders.They need to get short time loss sometimes for the sake of future growth.What happened now is there licences are cancceled, and most of all they lost all there coffee beans. No matter what, business philosophys are based on the actual working environment. They are in Africa-ethiopia under the leader ship of meles. They are not in europe or u.s.a. so they was supposed to play a fair buisness game. How ever my question is why did MELES-BEREKET take action only at this time? Why did not they take action on merchants when the price of teff soars. We heared that there was enough teff in the market when the price of teff sky rockets two years ago. But merchants have ultimate rights to decide the price of teff. Why they didnt take action that time?
Meles pushed Farmers to make more money to get elected and he went to far to spoil them in short time. Now when they do not play his game he is going after them.
There should have been some what some kind of restriction to not raise price so that the public could aford to eat. Meles only cars for him self. Export is less now he is robbing farmers and ship the coffee so that he will pocket the money.
I hope the farmers will eat him alive.
I can’t believe some of you idiots support the illegal confiscation of private property.
Fact: The coffee is the exporters and they have the right to burn it all if they want.
Fact: 17.000 tons of coffee even if sold at $2000 a ton will only produce $34 million which is not even going to put a dent in the current economic situation in Ethiopia.
Fact: It is not the coffee exporters or any individuals fault that the economy is bad it is the mismanagement by the government. They are not qualified to structure a whole countries economy and now it is starting to show.
So you idiots who support Meles and his cronies, you would support anything they do NO MATTER WHAT so you have no credibility. I bet if Meles shot you fools in the head you would write him a postcard from hell to thank him and to tell him to keep up the good work lol
Just amazing! If any thing this is a sign of bankruptcy, not only of finance but also of idea. Why were woyanes loathing the Dergue in public, when all their policy has become Dergue redux?
Back to blackergue redux. This is a very good signal for those who think of doing business in ethiopia.
Business as usual, you can’t deal with bad people doing business. So the government action is way to go. Yeha
good to see you once again. Please do business as usual between us. Thanks,Yeha
Those companies did not hoard the beans for gauging the price or to deprive the country of its foreign exchange earnings. What they opposed was simply the new directive that forced them to sell the coffee to Elleni’s EFX. They want to do business as they used to do before and in the last sixteen years. So who is to blame for this problem? The coffee traders who are asking fairness or Meles who is saying that all people are created equal but Elleni is created more equal?
Ethiopien buisness men don’t know what’s fair sirously have you seen the latest inflation in addis it’s not the governement’s fault but on the other hand when some ppl seize all the coffee and damage the economy the governement must do something
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