Regulatory Alerts2023-04-25
Added · Updated
Directive No. FXD/80/2022 Amendment to Directive No. FXD-65-2020 on Flower Export and Repatriations of the Export Proceeds
Directive No. FXD/80/2022 amends the minimum net selling prices for flower exports based on agro-ecological classification, setting specific USD per kilogram rates for roses and summer flowers in high, mid, and low land regions. It introduces a new provision for cuttings, establishing that their price follows the sales contract and is measured in the number of stems. This directive repeals and replaces Directive No. FXD/65/2020 and enters into force on April 01, 2022.
የኢትዮጵያ ብሔራዊ ባንክ NATIONAL BANK OF ETHIOPIA አዲስ አበባ / ADDIS ABABA
Directive No. FXD/80/2022 Amendment to Directive No. FXD/65/2020 on Flower Export and Repatriations of the Export Proceeds
Whereas the price of flower quoted at various international markets vary due to various factors which requires regular monitoring and follow-up the international flora market and proceeds repatriation by setting an appropriate mechanism and monitoring system;
Whereas, it has become necessary to amend further the minimum net price set under Flower Export and Repatriations of the Export Proceed Directive No. FXD/41/2012 as amended by Directive No. FXD/65/2020, in accordance to Agro Ecology classification of each flower.
Now, therefore in accordance with article 20(3) of the National Bank of Ethiopia Establishment (as amended) Proclamation No. 591/2008, this Directive is hereby issued to monitor the flower export, international price of the product and export proceeds repatriation.
Short Title
This directive may be cited as “Flower Export and Foreign Exchange Repatriation of Export Proceeds” (amendment) Directive No. FXD/80/2022.
Amendments
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Minimum Net Selling price of flowers stipulated under Article 5.1, 5.2 and 5.3 of the “Flower Export and Repatriation of the Export Proceeds” (as amended) Directive No. FXD/41/2012 is hereby amended as follows:
5.1 High land 5.1.1 Roses : USD 4.2612/kg 5.1.2 Summer flower: USD 4.7822/kg
5.2 Mid-Land 5.2.1 Roses : USD 4.3340/kg 5.2.2 Summer flower: USD 4.5475/kg
5.3 Low land 5.3.1 Roses: USD 4.6602/kg 5.3.2 Summer flower: USD 6.3699/kg
5.4 Cuttings for all geographical locations: 5.4.1 The price of cuttings is as per the sales contract 5.4.2 The unit of measurement shall be number of stems.
- The above new sub-article 5.4 is added following sub-article 5.3 and the existing sub-articles 5.1 and 5.2 are renumbered as sub-articles 5.5 and 5.6.
Repealed
“Flower Export and Repatriations of the Export Proceed Directive No. FXD/65/2020” is here by repealed and replaced by this directive.
Effective Date
These Directives shall enter into force as of April 01, 2022.