Posted on March, 24, 2023 at 06:09 am
Ethiopia’s capital city Addis Abeba is hit by unprecedented price hike coupled with chronic shortage of Teff, Ethiopia’s staple grain. But for political actors and activists supporting and opposing the ruling Prosperity Party (PP), the issue is not a mere supply-demand market malfunction. Critiques of the ruling Oromo Prosperity Party have overcrowded several media outlets crying foul about Amhara Teff farmers and traders being “systematically sidelined” from the market system in Addis Abeba, whereas officials of the ruling party itself blame “economic sabotage” for the crisis.
In the midst of the heated debate is the undeniably soaring price of Teff that has seen significant rise over the past few weeks alone. A quintal of Teff, which was sold between 5,000 to 5,500 birr two weeks ago is now traded between 8,000 to 10,000 birr in the capital Addis Abeba, sending residents in frantic search for the grain which is mainly used make Injera, the pancake like flatbread staple food among majority of Ethiopians.
During a visit to Addis Abeba’s Shola market last week, Addis Standard spoke to Sisay Bekele (name changed on request), a grain trader who said he had been selling Teff at birr 8,400 per quintal since a week ago.
“Usually, we don’t get it directly from the farmers, it reaches us through a chain of different people, which will result in price increase. The current one, however, is caused due to shortage of supply, as we cannot get as much grain as we used to,” Sisay said.
“At a time, the price increase started, I almost finished what I had in my warehouse. But I noticed there is a demand from my customers to buy in large quantities so I asked my supplier for more, and found out that the price is not the same anymore. I bought with an increased price, so I will sell as such,” Sisay explained how the price rise unfolded.
Source: Addis Standard