The Ministry of Trade and Industry (MoTI) has ordered the Ethiopian Commodity Exchange (ECX) to trade green mung bean
exclusively on the trading floor.
Based on the new order coming from the Ministry’s letter signed by Misganu Arega, State Minister of MoTI, the bean
which had been traded for five years on the electronic trading floor optionally will be fully handled by ECX.
Even though the Council of Ministers issued a regulation a year ago to exclusivel trade the mung bean and red kidney bean at the
ECX in addition to other grains which appeard on the market at the 10 year old trading centre it has not been applied until now.
Even though a year ago in a letter signed by Ayana Zewde, former state minster at the Ministry of Trade, ECX was
ordered to commence the exclusive trading of the two pulses it was after a the claim from exporters.
The latest letter that Capital obtained stated only mung bean would be included on the trading floor like coffee, sesame and white
pea bean. “Previously the enforcement of the exclusive trading of red kidney beans and green mung bean was lifted for some
time because exporters asked for an extension period,” the state minister’s letter explained. It added that the season is the
harvesting time for green mung bean and the country is able to get hard currency from bean. This does not include the red kidney
bean.
The letter copied to 11 federal and regional offices and sent to the Office of the Prime Minister, Minister of Trade and
other relevant bodies has advised the trading floor to undertake adequate preparation to commence the trading.
Coffee the traditional export product of Ethiopia is pioneer joining the trading floor in its formation early 2008 and then
followed by sesame seeds, which is the second largest hard currency earning product after coffee, and white pea beans.
Mung bean mainly produced in North Shoa and South Wello of Amhara region, Benshangul Gumuz, Gambella and some other
regions has been gaining in popularity over the past years by growers here.
The bean is not popular among Ethiopian consumers, unlike the southeast Asian region which is the major destination for
export. (Capital Ethiopia)