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ECX reports the upraise of the coffee market

24 February 2021

 

In January 2021, 11,409 tons of Unwashed Export coffee had been transacted for ETB 1.04 billion. 160 tons of Washed Export Coffee traded for ETB 10.4 Million. In this category, Godere took the market share by contributing 48% of the volume followed by Limmu and Sheka with a market share of 31% and 11 % correspondingly. 1,085 tons of Washed Export Coffee had been cleared with ETB 98 Million. Limmu shined forwarding 23% of the volume of the category followed by Bench Maji and Sidama with a market share of 18% and 15%. Besides Specialty Coffee had been traded in the month which offered 6,446 tons of coffee that were traded for about ETB 749.5 Million.

Moreover, coffee for local consumption had offered 5,451 tons of coffee that were traded for ETB 359 million. For the Local use coffee market; Local Unwashed took the leading in volume by 82% and that of local washed coffee has a market share of 18%.

Generally, over the last six months, the Ethiopian Commodity Exchange/ECX/ has sold 320,000 tons of commodities worth 19.8 billion, which is 99% of the target in terms of volume and 111% in the value from the targeted 323,694-ton commodity. From the 320,000 tons of commodity, sesame has taken the majority share, in the special marketing window for agro-processing industries launched in 2020, ECX has also traded 10,592 tons of soybeans.

At Hawassa, Humera, and Nekemte, ECX has three electronic market centers. They're going to introduce their fourth at Gonder around next week. Furthermore, it is building two new branches at Mizan Tefferi and Tepi. Together with that of a new warehouse in Bule Hora and Metu.

“In the new and emerging e-commerce centers, we are making extensive use of the system to enable farmers and suppliers to sell their products directly without being a member of the commodity exchange” explained ECX.

Reference

1.www.ecx.com.et (2021). Ethiopia Commodity Exchange traded 92,239 tons of Commodities worth ETB 4.6 Billion in the month of January 2020. Available at: http://www.ecx.com.et/Pages/NewsAndEvent.aspx [Accessed February 15, 2021]

2.Metasebia Teshome, Capital Newspaper (February 7, 2021). ECX reaps big in the first half of the fiscal year.

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