The Ethiopian Commodity Exchange is to introduce mung beans to its trading floor. The Ethiopian Commodity Exchange Authority, the supervisory body of the ECX has approved the plan on Friday 26 July, 2013. The primary reason for the inclusion of mung beans is the rise in the export of legumes in last three years, Fortune reported.

"There is a remarkable surplus which can be traded through the ECX and bring benefit to farmers", Addis Alem Balema, Director General of the Authority told Fortune.

In the 2011/12 Ethiopian Fiscal Year, the country exported 3.4 tons of mung beans.

Mug beans will be the sixth commodity of the exchange's trading floor following coffee, sesame, haricot beans, maize and wheat. Trading of mung beans through the ECX will be optional, unlike coffee and sesame which are commodities required to be traded exclusively through the exchange.

Source: Fortune