Monday, 1 December 2008

New electronic trading scheme to enhance status of Ethiopian coffee brands

According to Afrique en Ligne, Ethiopia's Commodity Exchange will begin trading in coffee this coming Tuesday, 2 December, employing an electronic trading system that is yet to take root in most African states. A new clearance system has been set up to ensure that all traders and buyers lived up to the expectations of the commodity exchange, guaranteeing payment for all coffee deliveries without fail.

Ethiopia's Intellectual Property Office supports the new scheme, saying that the country must retain its intellectual property rights for the coffee brands it produces in order to give its farmers a chance to earn more and have enhanced negotiation powers. A credible system for coffee trading is seen as a means of enhancing the reputation of Ethiopia's coffee brands.

No comments: