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Ethiopia: ECX to Start Trading Minerals

The Ethiopian Commodity Exchange is in the process of trading minerals and industrial products after securing the necessary approval. It has also inked a memorandum of understanding with the Ministry of Mines on minerals and mineral products.

Minerals that will be traded at the commodity exchange are sapphire, emerald, and opal while cement is one of the industrial products which will be included in the trade exchange.

In October last year, ECX announced that it would start trading wheat within the current Ethiopian year. Wheat trading will start after a draft agreement which is prepared to modernize wheat sale transaction in Ethiopia gets approved. ECX is also expected to launch trading incense, cardamom, rice and legume products.

Source: Ethiopian News Agency and Fana BC