Apr 21 , 2024
Sales contracts with overseas buyers and pre-registration with the Ministry of Trade & Regional Integration have become mandatory prerequisites for trading sesame on the Ethiopian Commodity Exchange (ECX) floor starting this week. According to Dawit Mura, head of corporate communications, the move aims to stabilise the market and prevent hoarding, particularly in commodities like sesame. Considering it is not a harvest season, Dawit believes the regulation is essential to encourage international trade. Exporters who have traditionally relied on the Exchange for accessing 23 commodities must comply with these regulations. Edao Abdi, who chairs the Ethiopian Pulses, Oil Seeds, & Spices Exporters Association, said the decision was taken to maintain the country's export earnings and restrict the domestic price hike.
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