The Ethiopia Commodity Exchange (ECX) announced that it has added niger seed to its list of agricultural commodities on its platform. In a press release sent to 2Merkato.com, the Exchange said the product “has been attracting the modern marketing system.”

Niger seed is the tenth agricultural product to be traded on ECX. The ECX branches ready to receive Niger seed are Addis Ababa, Saris, Bure, Nekemte, Gondar, Kombolcha, Assosa and Pawi. The addition of Nigger Seed in the modern trading system can help reduce illegal transactions, and foster Ethiopia’s export trade, ECX observed.

On a related note, ECX said it traded commodities with a total worth of 2.8 billion birr in during the 21 trading days in November, 2019. The traded items are, 21,704 tons of coffee, 3,310 tons of white pea bean, 29,300 tons of sesame, 1,083 tons of soya bean and 5,428 tons of green mung bean.

As usual, coffee took the lead both in market share and trade volume, accounting for 36 percent and 50 percent, respectively. 63 percent in volume of the traded coffee came from general coffee export trade, while the rest is accounted for by local and specialty coffees consecutively. 13,557 tons of unwashed export coffee has been transacted for 862 million birr, of which Illuababour shined with 29% of the volume of the category followed by Gimbi with 23% market share.

Of the 160 tons of washed export coffee traded for 10.4 million birr, Godere contributed the most in volume, 48 percent, followed by Limmu and Sheka which had a market share of 31 and 11 percent respectively.

In November, 1,815 tons of specialty coffee traded has also been traded for 141.06 million birr, while 6,172 tons of local coffee has been traded for 375.41 million birr. Compared with the same month of previous year, the trade volume and value of coffee showed increments of one and 0.51 percent respectively. The average price of coffee has increased by 4.28 percent.

During the period, a total of 29,300 tons of sesame has been traded for 1.21 billion birr. Humera/Gonder sesame took the highest share both in volume and market value, scoring 88 and 89 percent in volume and market value respectively. Assessing the comparison of sesame market with the previous month performance, its trade volume and trade value have shown significant increment, that of 210.57 and 187.64 percent respectively.

5,248 tons of green mung bean, which is one of the mandatory commodities to be traded only at ECX’s trading platform,has been traded with a value of 127.1 million birr.

During the month, 3,310 tons of white pea bean had been transacted for 64.20 million birr. Compared to the previous month, it has shown a significant increase, 145.97 in trade volume and 124.95 in trade value. The average price of pea bean shown a rise of 23.96 percent from the same month of the previous year.

Moreover, 1,083 tons of soya bean has been traded on ECX for a total of 16.18 million birr. Soya Bean Gojjam took the lion’s share of the trade, 67 and 71 percent in trade volume and value respectively.

Source: ECX Press Release sent to 2Merkato.com