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Ethiopian Commodity Exchange (ECX) traded 5.12 billion birr worth commodities in December

Commodity Exchange _ Ethiopia
Photo file / source : ECX

By Tesfa-Alem Tekle
January 10, 2020

(ADDIS ABABA) – The Ethiopian Commodity Exchange (ECX) on Friday disclosed that it has traded a total of 101, 948 tons of products worth 5.12 billion birr in December.

The commodity market was able to trade the stated amount of products, including sesame, coffee, white and red nuts.

Accordingly, 52, 598 tonnes of sesame was sold at 2.24 billion birr this month, while Gondar/Humera sesame accounts for 90% to the lions share of the total transaction volume.

Compared to the same period of last year, the trading volume increased by 34% and the transaction price increased by 26%, while the average price dropped by five percent.

Similarly, 8,565 tonnes of white beans were traded at 176 million birr while 8,100 tonnes of green beans were traded at 270 million birr.

Compared to the previous month, the transaction has seen a 171 % increase in volume and and a183 % rise in price while the overall price saw a hike by 3 %.

Green Match sales also increased by 49 % in volume compared to the previous month, and saw price rise of 9 % on average.

During the stated month, 30,416 tonnes of coffee were traded for 2.47 billion birr, out of which coffee exported accounts 59% and 58% of the total transaction price.

Compared to the same month last year, the volume of coffee transacted has risen by 10 % while the average price increased by 24 %.

On the other hand, 1,876 tons of soya beans were marketed and traded at 22 million birr and the trade volume rose by 73 %.

The cereal and vegetable production has shown improvement compared to the same period last year.

It was disclosed that ECX is ready to trade corn after 11 years, to improve its marketing contract and to offer warehouse loan services.

According to ECX, the supply and trade volume is expected to rise in the coming months. 

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