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SMART Aid supports Ethiopian farmers to market their food
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The Ethiopian Commodity Exchange (ECX), which opened in January 2008, provides a low-cost, low-risk way for Ethiopian farmers to trade and get a fair price for their produce. It trades coffee, sesame, haricot beans, teff, wheat and maize. The exchange ensures the quality of the produce, and manages delivery and payment through exchange warehouses and clearing. This is a huge step for smallholder farmers - 85 per cent of Ethiopia’s population - who rely on agriculture for their livelihoods. For years, they struggled to sell their produce at a competitive price as buyers had the power to set prices. When there was a good harvest, food prices plummeted. Now, after years of famine and market reforms that did little to alleviate hunger, they have a much better chance of increasing their incomes. The idea for the Commodity Exchange was developed by researchers at the Ethiopian Development Research Institute and the International Food Policy Research Institute (IFPRI). The IFPRI is one of 15 agricultural research centres supported by a collection of donor governments, private foundations, and international and regional organisations.
-Beth Adler
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