All Pulses to be Traded via Ethiopian Commodity Exchange

ADDIS ABEBA – All pluses will only be traded only through the Ethiopian Commodity Exchange (ECX) this year, the exchange announced.

The decision has already become effective since the start of the current budget year, which started on July 7, 2019.

The exchange has come up with the latest decision in a bid to combat contraband trade, its spokesperson Netsanet Tesfaye told state-run Ethiopian news agency.

“Ethiopian red pluses were for instance exported by Kenya” last year after exporters were given permission to sell the commodities, he said.

Reports say that the seeds were going out of the country through illicit trade to the neighboring nation – forcing the government to issue a stern warning to exporters.

“Hence all pluses and other commodities will be traded only through ECX beginning this Ethiopian budget year,” Netsanet said, adding that, respected government offices including ministries of Revenues, and Trade and Industry will follow up on the implementation of this decision.

Niger Seed and cotton are the other products that will be traded at the Ethiopian Commodity Exchange (ECX) from now onwards.