5 January 2019

Ethiopia: Ministry Brings Soybeans, Chickpeas to ECX

Photo: Addis Fortune
ECX to start trading soybeans and chickpeas after finalising the market viability assessment concerning the country’s resource of the commodities.

The Ministry of Trade & Industry has mandated that soybeans and chickpeas only be traded through the Ethiopian Commodity Exchange (ECX).

The decision was made by the Ministry on December 31, 2018. The two commodities will be traded at the five branches of ECX, which include Addis Abeba, Adama and Gonder.

The addition of the two commodities pushes the total number of agricultural commodities to be traded at the exchange to nine.

So far, the exchange has received 1,042ql of soybeans at its warehouses. ECX has transacted 78,008tn of commodities worth 3.8 billion Br, as of December 2018.

Before the conclusion of this fiscal year, ECX is planning to add niger seeds and legumes to its trading commodities.

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