Ethiopia Commodity Exchange Traded Over $906 Mn Worth of Commodities in 9 Months

ecxEthiopia Commodity Exchange (ECX) announced it has traded 602,823tons of commodities for over $906 million (30.4 billion birr) in the past nine months. This marks 97 percent of the target it set, the Exchange said in a statement sent to 2Merkato.com.

During the nine months, ECX traded 231,885 tons of coffee, 211,777 tons of sesame, 69,760 tons of soya bean, 46,914 tons of green mung bean, 39,286 tons of white pea bean, and 3,201 tons of red pea bean have been transacted. This exceeds last year's figures for the same period by 100,000 tones of commodities, which corresponds to twenty percent.

In terms of specific commodities transacted, the trade of coffee has been achieved 99 percent of the target, with a two percent increase from last year. Sesame's transaction, on the other hand, has been 75 percent of the target set for the item, with a four percent increase from the previous year. Overall, these commodities have been traded for 30.4 billion birr, with a 6 percent increase in the target set for the period, and a 21 percent rise from the same period last year.

The electronic trading centers at Hawassa and Semera have entertained the trading of 987 tons of coffee and 6,665 tons of sesame during the nine months. All the 23 branches of the Exchange have been performing their tasks of testing samples and assigning standards for various items. 

In its statement, ECX has further reassured it is continuing to take necessary precautions to prevent the spread and effect of the coronavirus in its headquarters and branch exchange centers. 

ECX and its workers have donated 1.7 million birr for the national effort to tackle COVID-19, according to the Exchange's statement. 


Source: ECX Press Release sent to 2Merkato.com

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