Most Ethiopian consumers prefer sunflower, Niger seed, and soybean oils as healthier. Due to these changes in consumer preferences, consumption of sunflower oil has almost tripled over the last couple of years and that of palm oil has dropped considerably.
Are Ethiopian exporters buying sesame seeds from ECX trading floor?
During MY 2018/19, the weighted average export price of sesame seed (i.e., FoB Djibouti Port) was significantly lower than the ECX local trading price on average by $206. This means that Ethiopian exporters were buying sesame seeds from ECX trading floor at prices higher than the international market.
Why is Ethiopia a major exporter of sesame seed?
This increase is due to production increases and sizeable quantity of carry-over stocks. Ethiopia is one of the key players in the global market for sesame seed and remains a major exporter. However, annual export volume has been falling at CAGR of 8% in the past eight years.
What is the role of oilseed in Ethiopia’s foreign exchange earnings?
Ethiopia¡¯s oilseed sector plays an important role in generating foreign exchange earnings. The three major oilseed crops (sesame, soybean, and niger seed) contribute to nearly 20% of Ethiopia¡¯s total agricultural export earnings, second only to coffee.