Ethiopian Commodity Exchange (ECX) started trading rice digitally on April 6, 2023 by trading grade one rice entered by ECX’s Bure branch for Birr 6,400 per quintal. A total of 60 quintals of rice were traded for Birr 383,232 on the same date.

Rice is one of the agricultural products that Ethiopia exports to the international market. It is widely grown in Amhara, Oromia, Southern Nations Nationalities and Peoples’, Gambella, Benshangul, Gumz and Tigray Regional States while Western Tigray, Southern Gondar, Buno, Bedele, Gambella, Jimma, Kafa/Bonga, Guraferda, and Sheka are the main rice growing areas. According to statistical data, the annual production quality of rice increased from 1.32 million tons to 2 million tons between 2016 and 2020. In terms of rice production, smallholder farmers and commercial farmers account for 60 percent and 38 percent, respectively while government owned farms account for the remaining 2 percent.

ECX started trading rice and other products such as incense, cardamom, beans, and white lupin in 2022.

Source: ECX