The Ethiopia Commodity Exchange signed a settlement agreement with Oromia Cooperative Bank, Ethiopia last Tuesday.
The agreement was signed by Wondimagegn Negera President of Oromia Cooperative Bank and Ahadu Wubshet, Chief Operations Officer at the ECX.
Add a comment Add a commentNote: the veracity of this story has been disputed by the Institute if Bio-Diversity Conservation. Their correction/comment is found in the comments section.
A Netherlands company, Soil and Crop, has allegedly defaulted on an agreement with Ethiopia’s Institute of Bio-Diversity Conservation. Soil and Crop and the Institute of Bio-Diversity Conservation, Ethiopia reached an arrangement on marketing teff products in 2005.
The agreement reached between the two bodies requires Soil and Crop to acknowledge the Ethiopian origins of teff, collaborate on research programs, pay for license renewal and share profits with the Ethiopian governmental institute.
Add a comment Add a commentThe Ethiopian Commodity Exchange sold 92 seats, with full membership privileges, last week. The seats were sold at competitive bid held at the Wabi Shebelle Hotel. The exchange will earn 123,370,708.81 birr from the sale.
50 of the 92 full membership seats on offer were allocated to limited members and suppliers previously engaged in limited trading on the exchange. 66 bids were received for the 50 seats with the highest bid received from Ato Teklay Gebre-Mariam Gebre-Medhin for 2,000,150 birr. The lowest winning bid was 459,950 birr. The commodities exchange is expected to earn more than 42 million birr from the sale of the fifty seats.
Add a comment Add a commentThe Ethiopian Commodities Exchange (ECX) is to review a proposal for trading in chickpeas and sorghum. The exchange 
announced plans to introduce the two commodities alongside Teff at its fourth national forum.
An industry study has already been done for chickpeas and sorghum said Bemnet Aschenaki chief strategy officer for the ECX. The study was done on samples collected by the ECX quality and product development team as per suggestions outlined by a technical advisory board explained Bemnet.
Add a comment Add a commentThe Ethiopian Commodities Exchange (ECX) is to offer 80 more full membership seats according to members. The seats will be offered to traders who have had limited membership rights so far. The additional seats will be sold in auction in November.
The auction will only be made open to those who have been involved in trading at the ECX.
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