Ethiopian Commodity Exchange announced Friday it has traded over 78, 000 tons of commodities the last month of 2018. The amount is way less than similar month of last fiscal year – both in terms of volume and value.
AT the end of December 2017, the exchange managed to trade over 105, 000 tons of commodities worth 4.4 billion birr.
Both the volume and the value of the commodities for December 2018 decreased significantly, according to data from ECX.
The commodities traded in the month that ended last week are worth 3.8 billion birr – shrinking by 600, 000 million birr.
– Increasing Sesame Volume –
In terms of volume, sesame took the highest portion with over 39 240 tons of sesame were transacted in December.
Coffee, on the other hand, has been the highest in terms of value with it generating 40 percent of the total trade for 27, 723 tons of coffee.
Close to 11, 000 tons of read pea beans were also traded during the month of December, according to ECX.
During the month, in addition to coffee and sesame, the Exchange has begun trading soybeans and chickpeas.
Global demand for the two commodities and the recurrent request from farmers are the primary reasons to add the commodities to the trading floor, according to ECX’s corporate communications office. (Daily Monitor)