Ethiopia Commodity Exchange Traded Commodities Worth $72 Million in October

ECXEthiopia Commodity Exchange (ECX) announced that in the 23 trading days in October it transacted 21,034 tons of coffee, 9,434 tons of sesame, 6,534 tons of soya bean, 6,046 tons of green mung bean, and 1,327 tons of white bean. The amount comes to a total of 44,394 tons of commodities, traded for $72.49 million (2.16 billion birr).

The Exchange, in a press release sent to 2Merkato.com, noted a remarkable increase of 19 percent in trade volume and 7 percent in trade value of green mung bean, which is attributed to the decision to offer the commodity only on a commodity exchange platform.

190 quintals of red bean, which like green mung bean is also sold on a commodity exchange platform only, have been transacted for 184,000 birr. ECX prospects the amount will rise in the coming months.

Coffee remains the top commodity of all, 47 percent in trade volume and 67 percent in trade value. Of the total coffee trading, coffee export contributed to 66 percent of volume and 65 percent of value. In October, 13,947 tons of unwashed coffee has been exported for 938.2 million birr, and 10 tons of washed coffee for 588,100 birr via ECX. Locally, 6,309 tons of coffee has been traded for 432.78 million birr. During the month, 767 tons of specialty coffee has been traded for 71.14 million birr.

Sesame, which has shown a drastic increase compared to the same period last month, has seen a rise in volume of 136 percent, and trade value rise of 88 percent. Compared to the same period last year too, it has seen a rise of 26 percent in volume and 32 percent in value. During the month, 9,434 tons of sesame has been traded for 419.75 million birr.

Increases in trade volume and price value have also been apparent for soya bean and white bean. Soya bean’s trade value has shown a 12 percent increase compared to the same period last month, while white bean exhibited a 39 percent rise in trade value and a 57 percent rise in trade volume.


Source: ECX Press Release sent to 2Merkato.com

 

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