Ethiopia Commodity Exchange (ECX) announced it traded commodities worth over $71 million (2.1 billion birr) in the month of September 2019. During the twenty days of trading in the month, the Exchange traded 21,525 tons of Coffee, 7,111 tons of Soya Bean, 5,083 tons of Green Mung Beans, 3,994 tons of Sesame and 858 tons of White Pea Bean.

Coffee took the lion’s share of the market, contributing 56 percent in trade volume and 76 percent in trade value. The trade volume and value of coffee have increased by 47 percent and 55 percent respectively, compared to the same month of the previous year. The average price of coffee has also increased by 2 percent.

During the month, export coffee trade dominated the market by controlling market attention with 76 percent of the volume and the value, followed by Local and Specialty coffees. 15,967 tons of Unwashed Export coffee had been transacted for 1.18 billion birr. Of Unwashed origins, Gimbi took the lead contributing 24 percent of the volume of the category, followed by Illuababora with 19 percent market share.

Regarding Coffee of Washed origins, 380 tons have been cleared with 29.97 million birr. Sidama stood first in this category, contributing 24 percent of the volume followed by Limmu and Yirgachefe with a market share of 22 and 19 percent respectively.

Moreover,3,875 tons of local coffee was traded for 268.52 million birr. Unwashed coffee accounted for 64 percent of the local coffee consumption, with washed coffee’s 36 percent contribution for the rest.

During the same month, 7,111 tons of Soya Bean have been traded in the ECX marketing platform with a value of 111.29 million birr. Soya Bean Gojjam type has taken an astounding share of 68 percent, both in trade volume and value.

A total of 5,083 tons of Green Mung Bean have been traded for 157.54 million birr. This showed an increment of 160 percent in trade volume and 170 percent in trade value compared to the previous month of August. The average price for Green Mung Bean has also increased by 5 percent from what it was in August.

In the month, a total of 3,994 tons of sesame had been traded for ETB 223.25 Million. Humera/ Gonder sesame took a higher share of the market by scoring 66 percent and 72 percent in terms of trade volume and value respectively. In a comparison made with the same month of the previous year, the volume and value sesame trade has increased by 94 percent and 141 percent respectively. The average price has also increased by 19 percent from the same month of the previous year. In addition, a total of 858 tons of white pea bean have been transacted for 20.57 million birr.

Ethiopian Commodity Exchange is a unique partnership of market actors, the members of the Exchange, and its main promoter, the government of Ethiopia.

Source: ECX Press Release sent to 2Merkato.com