The Ethiopia Commodity Exchange (ECX) includes the trading of rice on its electronic trading floor.
According to the statement sent by ECX, the exchange has traded 60 quintals of rice on its trading embankment of the commodity, on Thursday April 6.
On the day, rice of grade 3 which was stored at Bure warehouse has been traded for the average price of 6,400 birr per quintal.
The introduction of rice trading is expected to benefit producers in getting better prices and improve their bargaining power, in addition enabling buyers to purchase the commodity on market basis.
Currently, rice is produced in Amhara, Benshangul Gumuz, Gambella, Oromia, SNNP and Tigray regions.
Rice is a relatively new grain to Ethiopia, with its introduction only taking place in the 1970s. As a result its consumer demand has far outstripped supply and, today, rice imports account for 76 per cent of Ethiopia’s rice consumption.
In recent years, production of the grain has been expanding. For instance, the country produced two million metric tons of rice in the 2019/20 harvest season that increased by almost 700,000 metric tons in contrast with the amount registered four years earlier.
Of the total production, individual farmers took the lion’s share with 60 percent, while the rest is accounted by private investors.
Rice debuts at ECX’s trading floor
Ethiopia’s qualification campaign almost at dead end
A two leg showdown defeat against Guinea, Wubetu Abate’s dream of leading Ethiopia into the 2024 African nations cup final shattered into pieces. Three defeats from four outings Ethiopia is thrown down from top to bottom of the table with just three points while Egypt tied for the top spot of group (D) with Guinea but took over the driving seat in goal differences.
Though many football fans were overtaken by the “once in a blue moon” dramatic 2-0 victory over Egypt three months earlier, the naked truth of Ethiopian football is once again resurfaced in the clear not only in losing the two leg fixture against Guinea but the poor performance exhibited.
The first leg 2-0 score sheet doesn’t tell everything for the 26 goal attempt by Guinea compared with none for Ethiopia hardly mentioned. A fiasco performance with a pores defense line and tooth less up-front, the number of goals could have risen higher had it not been for the bravery of debutant goal keeper Said Habtamu.
The 3-2 defeat at the second leg in Rabat is considered a huge boost for Wubetu for his squad showed some fighting spirit for their pride. But still a sloppy defense and poor work rate from the midfield, Guinea managed to go away with a 3-2 victory thus shouldering the group top spot with Egypt having nine points.
Likely to host the group fifth round against Malawi far from home on 16th of June then the group final match against group leader Egypt in Cairo on 8th of September, the qualification campaign for Ethiopia is as good as finished.
Webetu Abate told reporters after the game that anyone even better than him took over the national hot seat, nothing better would come for Ethiopian football is in a death bed looking for serious commitment from all parties concerned.
Amdework led Ethiopian medal sweeping victory in Korea
Ethiopia’s Amedework Walelegn was a comfortable winner of the Seoul International Marathon crossing the finish line of the World Athletics Platinum Label road race in a PB of 2:05:27.
It was his second victory in the Korean capital, having won there just four months ago in 2:06:59 at the JTBC Seoul Marathon. On this occasion, the 2020 world half marathon bronze medalist went much quicker in what was just the third marathon of his career.
He ran as part of a pack for most of the way, passing through 5km in 14:51 and 10km in 29:33 before reaching the half-way mark in about 1:02:30, putting them on course for a finishing time of about 2:05 – just outside the course record of 2:04:43 set last year by Mosinet Geremew.
The pace dropped slightly leading up to 30km, which was reached in 1:29:31 with eight men still in the lead pack. Walelegn then put in a bit of a surge and covered the next 5km segment in 14:34 – the quickest of the race. It was enough to break away from compatriots Shifera Tamru, Haftu Teklu and Olika Adugna Bikila, who formed a three-man chase pack.
The three chasers broke up in the final two kilometres. Tamru – a former winner in Seoul (2019) and Daegu (2022) missed out on adding another Korean marathon victory to his collection, taking second place in 2:05:41. Teklu, who was contesting just the second marathon of his career, was third in 2:05:53, finishing comfortably ahead of Bikila (2:06:29).
Only the men’s race had been granted a World Athletics label.
Ethiopian Premier League is back over the weekend at Adama University Stadium
The Ethiopian premier league season resumes over the weekend after a three weeks break due to international fixtures. As of the 17th week fixtures Adama University is the new venue for the next six rounds.
Surprise package Ethiopia Insurance (Medin) entertains relegation strugglers Arbaminch Ketema tomorrow. Taking the league by storm in its first season back to the top tier, Medin is currently sitting third in the table collecting 30 points from 16 fixtures while Arbaminch is 14th in the roster with just 18 points.
One win and one defeat in the past five matches, Gebremedin Haile’s side appeared to be in a slowdown thus a five point difference from the leaders Kidus Giorgis. A single win and five draws in the past six matches, Arbaminch boss Mesay Teferi is under pressure to lead the boat out of the sinking water.
Four defeats from the past five matches Diredawa boss Yordanos Abay travels to Adama to battle for his life as well for the team currently sitting three points above relegation zone. Diredawa’s adversary is Legetafo Ketema, the side dwelling rock bottom of the table with six points. A new boss in the form of no patience Zemariam W/Giorgis, Legetafo is to show off its three foreign imports for the first time. It is a huge showdown for Zemariam and his squad for a win could mean a stepping stone for a brighter future for the side.
Second in the table Baherdar Ketema is into a head on clash against Wolkite Ketema on Tuesday. One win and three draws in the past five matches, Baherdar is five points behind the league leaders therefore a must win clash with 11th in the table with 21 points Wolikite Ketema.
Kidus Giorgis one man strike force Ismael Ouro Agoro leads the top scorers’ roster with 16 goals while Wolkite front man Getaneh Kebede second with 12 goals followed by Diredawa target man Binyam Getachew with eight goals.
