What is the basic idea behind Commodity Exchange?
Eleni G.Medhin: The basic idea is to create a system that works for the benefit all, of particularly to ensure a way to address market risks. I think setting up a commodity market exchange system that serves all, to bring security, integrity and efficiency to all players in the market is important and this is the basic idea of people who set up this system in all organized markets elsewhere. There’s huge growth in emerging market commodity exchanges. Exchanges in India have seen 270% annual growth. There’s tremendous potential for an exchange in Ethiopia, which is the largest grain producer in Africa, producing 30% more grain than South Africa. The exchange – EXEC (Ethiopian Commodity Exchange), launching soon, integrates numerous facets of the agricultural market, simultaneously creating arbitration boards, market information systems, trading systems, rural access through VSAT-empowered data centers, warehouses, certification centers and exchange banks. The goal is to give farmers inf
