National Coffee Exchange from Ethiopia
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As we all know, Ethiopia is the biggest coffee producer among the countries in Africa. Now, they are about to do Coffee exchange in Ethiopian Commodity Exchange to drive more quality and the chance for farmer to get paid from the beans they seeded. The implication of the coffee exchange is that the farmer have bigger access and chance to the direct market.
This one is better rather that previous system: sales using middlemen, no such formal agreement. They are now prepare for the network of warehouses to collect beans.
There are many advantages when coffee grower have the access to direct public. It can minimized fraud such as little chance for the grower from small growing are. They need to use electronic exchange in order to make transaction in Coffee Exchange.
Set up earlier this year, the exchange already trades in maize, wheat, sesame seeds and haricot beans.
Ethiopia is the birthplace of coffee cultivation and the crop continues to account for more than a third of its export earnings.
It earned $525m (£354m) from coffee exports in the 2007-08 financial year.
However, Ethiopia still remains one of the world’s poorest nations, and is ranked 170 out of 177 on the United Nation’s Human Development Index.
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