Addis Ababa - Ethiopia's Livestock Development Institute reported earnings of approximately 74 million US dollars from the export of animal products during the last ten months of the current fiscal year. This financial performance was disclosed in a conversation with the Ethiopian News Agency (ENA) by the Deputy Director General of the institute, Sahlu Mulu.

According to Ethiopian News Agency, the country exported over 24,200 tons of animal products to international markets during this period. The institute had initially targeted exports of around 26,000 tons of animal and animal products. He noted that various initiatives such as research, technical support, consulting, and capacity building in livestock products have been pursued to industrialize the sector and increase export revenues.

The institute reported that the 74 million US dollars in revenue was derived from the exports of meat, honey, camel milk, and offal products to various countries worldwide, achieving nearly 65 percent of their planned export revenue for the period. Sahlu also mentioned that the institute aims to secure a total of 140 million US dollars from livestock and animal product exports by the end of the fiscal year.

However, the deputy director highlighted several challenges impacting export growth, including rising domestic production costs, stagnant prices for processed animal products in destination markets, security challenges in those markets, issues with illegal trade, and concerns over product quality. Despite these obstacles, Sahlu revealed that concerted efforts are underway to diversify export destinations and explore alternative markets to enhance revenue streams.