According to a June 26 Ethiopia News Agency report, the Ethiopian Agricultural Works Corporation has earned $600,000 USD in the last ten months from natural resins and incense exports to Europe, the United States, Latin America, and Africa.
Gashaw Aycheluhem, the corporation’s Communication, and Social Affairs Head told reporters that 2,300 quintals of produce were exported during the same time period. He also stated that $400,000 in forest products are being prepared for foreign purchase. While Gashaw praises the company’s current technology, he believes that more sophisticated technology is required for further development.
The corporation has been carrying out its mission of providing agricultural inputs and machinery to farmers and pastoralists at a reasonable and affordable price. The company then transports its products to its manufacturing site, adds value, and exports 90% of the product. Since its inception about 6 years ago, the company has earned $13 million in exports of incense, natural resins, myrrh, and apricot, and $1.55 million (ETB79 million) in domestic sales.
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