Speaking at the launch of Ethiopian Commodity Exchange (ECEx) Enterprise on Friday, Meles said the system will bring about transparency, efficiency in market, quality in production, and enhance productivity.

The launch of the system in Ethiopia, where agricultural production is mainly carried out by small holding farmers indicated that the government has been implementing sound development policy.

According to Meles, transforming what has for long been a hand-to-mouth production of the Ethiopian household farmers to a market-driven one is a major structural change achieved in rural areas of the country during the past five years.

Deputy Prime Minster and Minister of Agriculture and Rural Development Addisu Legesse on his part said agricultural productions for local consumption and export have steadily been increasing.

The growth in agricultural production has become a base for the establishment of commodity exchange in the country.

The system which is to be launched on limited number of items will be expanded in the future, he said.

Enterprise Chief Executive Officer, Dr.Eleni Gebremedhin on her part said studies and preparations were undertaken for 18 months to implement the system.

The commodity exchange initially launches operations on selected items every day. The enterprise is opening warehouses. Price index screens will be erected at selected sites, ETV reported.

R...2:20-3:20 pm

E: 4:10 pm

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