The trade value of the Ethiopian Commodity Exchange has reached 21 billion birr in the current financial year while its trading
volume has increased to 601,000 tons announced the ECX.
The trading value of the Exchange increased by 21% while its trading value showed an increase of 23% noted the company press release.
The increase in trading volume included the 52% increase in the trade in white pea beans, which reached 64,000 metric tons and a 38% growth in sesame trade to 303,000 metric tons.
The volume of sesame traded has exceeded that of the coffee which only showed an increase of 3% to 234,000 metric tons. The volume of coffee traded has not increased more significantly due to the volatile global market and adverse weather conditions explained the press release quoting Dr. Eleni Gabre-Medhin, Chief Executive of the Exchange.The financial prospects of the ECX are healthy and stable with an increase of 34% seen in operational revenues which reached 226.4 million birr while net earning increased by 31% claimed the company release.
The exchange has also increased the number of cooperative unions collaborating with it to 193 from 111.
The price of membership at the exchange has also increased from the original 50,000 birr at founding in 2008 to an average of 1.35 million in 2011 said the release. The Exchange currently has 329 active full members and 10,416 customers of whom 40% are to be found outside of the city.
Source: Ethiopian Press Agency
