ECX To Evaluate Proposal For Two Commodities

The Ethiopian Commodities Exchange will evaluate a proposal for trading in chickpeas and sorghum.

The Ethiopian Commodities Exchange (ECX) will evaluate a proposal for trading in chickpeas and sorghum, 2Merkato.com reports. ECX’s chief strategy officer Bemnet Aschenaki said that in areas where the ECX is active, the level of harvesting of these commodities is high, and many members who already trade in other commodities at the exchange trade in these commodities as well.

Trade in chickpeas and sorghum will help price discovery, Aschenaki added. The move requires approvals from the ECX board and the Ethiopian Commodity Exchange Authority. The exchange collected samples of the two commodities from a group of technical experts and other specialists from the Ministry of Agriculture, Quality and Standard Authority of Ethiopia and ECX members.

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