(AFP) – Apr 24, 2008

ADDIS ABABA (AFP) — Ethiopia on Thursday launched a commodities exchange market, aimed at boosting fair trade and stabilising its food market.

Initial trading on the Ethiopia Commodity Exchange on Thursday was limited to maize and haricot beans on Thursday, but is set to expand to coffee, sesame, teff (a staple grain in Ethiopia) and wheat.

Ethiopian Finance Minister Mekonnen Manyazewal said the exchange represented "a new era" that would level the playing field smaller farmers.

Ethiopia earned over one billion dollars in the past nine months from exports of coffee, cereals, spices and other agricultural products.

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