Coffee Trade Up at ECX

The Ethiopia Commodity Exchange traded 25,577tn of coffee, 7,480tn of sesame seeds and 2,165tn of haricot beans for a total value of 2.2 billion Br in October. Coffee takes the greatest share of the trade volume at 72.6pc and 83.9pc of the total traded value. Compared to last month, coffee transaction volumes increased by 74pc. From the total production, 66pc of the coffee was exported. ECX also traded 9,394tn of coffee for domestic consumption, amounting to 402.7 million Br. The exchange traded 7,480tn of sesame traded for 318.8 million Br, showing increases of 244pc in transaction value and 263pc in volume from the previous month. Currently, ECX has 347 members and trades nine commodities including the latest entrants, soya beans and chickpeas.



Street vendors around the Shola area take a rest in the shades of the capital's newly planted trees. Upon reporting on its 10-month performance before Parliament, the Agriculture Minister, Girma Amentie indicated that up to 43pc of the arable land in the country has been rendered acidic. This requires large amounts of limestone to be imported from abroad; the tight forex crunch has not allowed the Ministry of Finance to fund the endeavour easily. Following the rallying call of the Prime Minister...



Residents of communal houses around the Weji area hang their clothes on the fences outside. Textile manufacturing accounts for 87pc of Ethiopia's products from industrial parks. Expulsion from the African Growth & Opportunity Act (AGOA) due to the war in the North resulted in Ethiopia being expelled from the preferential trade act. Most companies choosing to rent sheds within the industrial parks do so out of a desire to access the duty-free privileges provided for African countries. Ethiopi...



Vendors put traditional beauty products from the Somali Regional State for sale around Mexico area. In November of last year, the Ministry of Finance banned imported goods under 38 categories, including cosmetics, packed foods, and furniture, from accessing letters of credit. The move resulted in the tripling of costs for cosmetic items like lipstick and nail polish. As Ethiopia ran a 14 billion dollar merchandise trade deficit last year due to import bills hiking by 26pc , a tight clampdown on...