Sesame seeds were traded on the Ethiopian Commodities Exchange (ECX) for the first time on Friday, November 5, 2010, Where officials at ECX where hoping would become the price reference for the international market.
The New York international market is the reference for Arabica coffee and the Chicago market for maize, but there is no global reference for sesame.
“With the start of sesame trading on the ECX, our target is to include sesame from Ethiopia as the global market reference,” Eleni Gabre Madhin (PhD), chief executive officer (CEO) of the ECX, during the first trading.
Although sesame has a significant share in the total items exported from Ethiopia, its export used to be handled by individual exporters or unions. The process to include sesame among the commodities like coffee and maize which are traded by the ECX started in 2006 but the lack of warehouses and quality assurance delayed it.
After Mussie Yacob, (PhD), chairman of the board of directors of Ethiopian Pulse, Oilseeds, and Spice Processor Exporters Association (EPOSPEA), rang the bell to open trading, two types of sesame were traded. More on Addis Fortutne
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