The Ethiopia Commodity Exchange (ECX) is gearing up to market flax, gulo fruit, and teff in the current fiscal year through a modernized marketing system. The completion of research on flax and malting barley has set the stage for these products to enter the market, with preparations underway to ensure their introduction does not adversely impact the domestic market.

Ato Behaylu Nigusie, the Deputy Chief Executive Officer of the Marketing and Marketing Department at ECX, emphasized the government's focus on achieving self-sufficiency in food grain supply over the past three years, resulting in increased agricultural productivity and expanded production of agricultural products. Assuring that the products entering the market won't disrupt domestic supply, he outlined the plan to market flax, gulo fruit, and teff through a modern system.

Beyond agricultural products, efforts are underway to introduce non-agricultural items such as leather, leather products, and salt into the marketing system. Studies are also being conducted to incorporate industrial products, aiming to strengthen the marketing system and identify challenges within it.

Ato Behaylu highlighted the role of the Commodity Market in serving farmers, suppliers, cooperatives, and exporters by enhancing the marketing system and services. This initiative aligns with the country's broader goal of boosting foreign exchange earnings. In the pursuit of internet marketing, the addition of more agricultural products to the system and the expansion of existing trading volumes, along with an increase in warehouse receipt credit services, are recommended.

Looking ahead, ECX aims to market various products worth Birr 37.9 billion by the end of the fiscal year. It traded 257 thousand metric tons of various products worth Birr 24 billion in the 2022/23 fiscal year. Soybeans and coffee stood out as the most traded products in the market.

Source: Addis Zemen