The Ethiopian Commodity Exchange Prepares To Market Wheat in a Modern Trading System

The Ethiopian Commodity Exchange announced the preparation of wheat trading through a modern marketing system in 2022. Following Ethiopia's initiative to export wheat in the 2021/22 financial year, Kenya and Djibouti, together with other countries, showed interest in buying wheat from Ethiopia. The Ethiopian Commodity Market started selling corn and wheat products 15 years ago, but due to insufficient wheat productivity, it did not last more than a few months. The Commodity Market has prepared a draft contract that will allow wheat to be traded in a modern trading system and will start trading this year after contract approval. Most of the 25 branches of the exchange market are located in high wheat-growing areas, so farmers and the supplier can easily deliver the product. In addition, farmers and suppliers would bring products to the market that have been inspected and graded, and the warehouse receipt credit service system has been set up to enable them to get short-term loans.