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(单词翻译:双击或拖选)
Ethiopia is considering legal action against coffee exporters who withheld1 beans from the market in response to unfavorable market conditions, causing a drop in the country's revenue. Officials are hoping prosecution2 of a few big exporters will send a warning signal.
Ethiopian President Meles Zenawi, (file photo)
Ethiopia's Prime Minister Meles Zenawi says six of the country's largest coffee exporters could be prosecuted3 for what he called 'hoarding4' beans.
"I only know of six companies who have legal issues, and I would not be surprised if some of them will be taken to court," Mr. Zenawi said.
Ethiopian authorities say stockpiling is contributing to an already severe foreign exchange shortage and they recently revoked5 the licenses6 of six big coffee exporters and closed their warehouses7. They turned over sale of the beans to a state-owned commodity exchange.
Ethiopia is the world's sixth-largest coffee producer, and the biggest in Africa. But income from exporting the beans has fallen sharply during the past year. Analysts8 say the drop is due to a poor harvest, weak world prices and a ban on Ethiopian imports by the country's biggest customer, Japan.
Prime Minister Meles said Monday he had warned the largest producers months ago that withholding9 beans from the market constituted an attempt to 'sabotage10' the economy. He told reporters prosecuting11 the big exporters is intended as a lesson for smaller players in the market.
"The government is not pursuing the case in the hopes that the steps taken against these six companies will be an adequate signal to the rest of the actors in the sector12 to behave in accordance with the law," Mr. Zenawi said.
Government officials had earlier attempted to reassure13 markets, saying there is no plan to nationalize the coffee industry. Communications Minister Bereket Simon said last week the state would act only as a market regulator.
Trade Ministry14 statistics indicate Ethiopia's coffee exports declined by more than 10 percent in the first eight months of the current fiscal15 year, compared to the same period last year. Coffee accounts for about $500 million a year in foreign exchange earnings16 or close to half the nation's total export revenue.
Industry sources say the United States buys about five percent of Ethiopia's coffee exports, or roughly 65 million kilograms a year. Japan had imported approximately five times more than the United States before the ban was imposed, after traces of insecticide were discovered in some bags of Ethiopian coffee.
1 withheld | |
withhold过去式及过去分词 | |
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2 prosecution | |
n.起诉,告发,检举,执行,经营 | |
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3 prosecuted | |
a.被起诉的 | |
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4 hoarding | |
n.贮藏;积蓄;临时围墙;囤积v.积蓄并储藏(某物)( hoard的现在分词 ) | |
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5 revoked | |
adj.[法]取消的v.撤销,取消,废除( revoke的过去式和过去分词 ) | |
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6 licenses | |
n.执照( license的名词复数 )v.批准,许可,颁发执照( license的第三人称单数 ) | |
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7 warehouses | |
仓库,货栈( warehouse的名词复数 ) | |
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8 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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9 withholding | |
扣缴税款 | |
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10 sabotage | |
n.怠工,破坏活动,破坏;v.从事破坏活动,妨害,破坏 | |
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11 prosecuting | |
检举、告发某人( prosecute的现在分词 ); 对某人提起公诉; 继续从事(某事物); 担任控方律师 | |
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12 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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13 reassure | |
v.使放心,使消除疑虑 | |
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14 ministry | |
n.(政府的)部;牧师 | |
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15 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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16 earnings | |
n.工资收人;利润,利益,所得 | |
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