The Ethiopian Commodity Exchange (ECX) is getting ready to start trading aromatic gum and resins. The exchange, which is seeking to expand its electronic trading floor, is now developing a contract for aromatic gums such as frankincense, myrrh, and opopanax. Gum Arabic, a non-aromatic gum, and resins will also be traded on the floor.
Ethiopia is one of the countries having abundant Acacia, Boswellia, and Commiphora species, which are used to make gum arabic, frankincense, and myrrh, respectively. The entire area of oleo-gum resin-bearing forests in the country is estimated to be around 3.5 million ha, with around 30,000-33,000 metric tons of natural gum production potential.
Source: Capital Newspaper
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