The Ethiopian Agricultural Business Corporation (EABC) said it has purchased 936,430 tonnes of fertilizer at a cost of 6.4 billion Br. Seventy pc of the purchased fertilizer was bought from OCP, a Moroccan based global market leader of phosphate and its derivatives.
The fertilizer is being imported via the port of Djibouti and Port Sudan. “The importation of the fertilizers via Port Sudan will reduce the transportation cost and time needed to reach the northern part of the country,” said Kefyalew Berhanu, CEO of EABC.
EABC was established after five enterprises and companies were amalgamated a year ago with the goal of enhancing the agricultural sector. They included the Ethiopian Seeds Enterprises, Natural Gum Processing & Marketing Enterprise, Agricultural Inputs Supply Enterprise, Agricultural Mechanization Services Enterprises, and the Agricultural Equipment Technical Service S.C.
By avoiding supply chains and purchasing the fertilizer directly from the producer it has enabled the company to reduce its cost, Kefyalew said, adding that the big savings in purchase and transportation cost is expected to reduce the price of fertilizer for the farmer by 200-350 Br per quintal.
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