ECX Introduces Five Commodities to Trading Floor

February 26 , 2022


ECX Introduces Five Commodities to Trading Floor

The Ethiopian Commodity Exchange (ECX) introduced five agricultural items to its trading floor last week. The addition of black pepper, fenugreek, black cumin seeds, Indian peas, and coriander brings the commodities traded at the Exchange to 16. The Exchange's officials say the move will improve the production and marketing systems associated with the spice trade and reduce high transaction costs brought on by the heavy involvement of intermediaries. More than half a million smallholder farmers cultivate spices on an average holding of less than half a hectare, producing over 240,000tn of 50 varieties of spices each year. The majority of the production comes from the Oromia and Amhara regional states.


Radar

UN Agencies, Gov't Appeal for $73m in Refugee Funding

The United Nations World Food Programme (WFP), the UN High Commissioner for Refugees (UNHCR), and the Refugees & Returnees Service are appealing for 73 million dollars in funding to provide food to over 750,000 refugees in Ethiopia. Funding shortfalls have already forced the WFP to cut rations for refugees residing in 22 camps and five sites in the Afar, Amhara, Benishangul-Gumuz, Gambella, Somali, and Tigray regional states.  The Benishangul-Gumuz Regional State hosts the highest number...


Radar

MAGNETIC FREE TIME

Many children could be seen on the streets of Addis Abeba in the business of weighing people using portable scales. But it is a job with much free time. One kid has attached a rope to a piece of magnet to collect materials with iron without having to bend...


Radar

NEW GEAR

Guests, including Asfaw Alemu (centre), president of Dashen Bank, and Samuel Tafesse, real estate mogul, are shown the new Nissan Navarro pickup vehicle at Nyala Motors showroom on July 30, 2022. Despite a foreign currency crunch, the car market is hot, with sellers boasting lots at full capacity...