Ethiopia Commodity Exchange (ECX) announced a trading volume reaching Birr 23.6 billion for the current fiscal year.
This figure signifies a year-over-year increase, driven by strong performances in coffee and oilseeds. Coffee trade saw an 18% rise, while oilseeds experienced a remarkable 45% increase. Overall, the market witnessed a 30% growth compared to the previous year.
ECX is actively working to diversify its offerings. New products such as beans, chickpeas, and sesame for foreign markets have been added to the trading system and are expected to commence trading alongside contract and investment farms soon. The market plans to expand its portfolio to include beer barley, teff, flax, leather, and cotton products.
The organization is implementing various initiatives to support its growth. The warehouse receipt loan service has facilitated loan agreements with banks, releasing millions of birr to participating businesses. The market is also focused on enhancing its infrastructure and human resource capabilities. Upgrading laboratory capacities and investing in research and development programs are key focus areas to maintain a competitive edge and position itself as a center of excellence within Africa.
Source: Fana BC
