ADDIS ABEBA – Ethiopia Commodity Exchange (ECX) traded 60,825 tons of agricultural commodities worth 2.8 billion Ethiopian Birr in November, its monthly report shows.
ECX’s report says coffee took the lion’s share of November’s market contributing 36% in trade volume and 50% in trade value. Over 21,700 tons of coffee had been transacted in 21 market days of the month.
The remaining commodities’ trade share for the month were 3,310 tons of white Pea bean, 29,300 tons of sesame, 1,083 tons of Soya Bean and 5,428 tons of Green Mung Beans.
Export coffee dominates
ECX saw export coffee trade dominate the coffee market by controlling market attention with 63 % of the volume and followed by Local and Specialty coffees in November.
A total of 13,550 tons of unwashed export coffee had been transacted for 862 million Birr during the month. Of this category, unwashed coffee from Illuababour shined with 29% of the volume followed by Gimbi with 23% market share, said the Exchange.
Meanwhile, over 160 tons of washed export coffee worth 10.4 million birr traded during the 21 days. Out of this, Godere contributed 48% of the volume while Limmu and Sheka enjoyed a market share of 31% and 11 %, respectively.
Also, 1,815 tons of specialty coffee worth 141.06 million birr traded in the month of November, according to ECX’s report.
“Compared with the same month of the previous year the trade volume and value of coffee is also increased by 1 % and 0.51% respectively. The average price of coffee has increased by 4.28%,” ECX said.
According to ECX’s monthly report, a total of 29,300 tons of sesame had been traded for 1.21 billion birr while a total of 5,428 tons of Green Mung Bean had been sold for a 127.1 million birr in the month.
The report also claims that over 3,310 tons of White Pea Bean had been transacted for 64.20 million birr with the commodity performing better than the others in November.
The report shows its performance in terms of trade volume and value significantly increased by 145.97% and 124.95%, respectively.
The Exchange also witnessed a total of 1,083 tons of Soya Bean valued of 16.18 Million birr traded in the month.