| ECX launches DST |  |  |  |
| Thursday, 18 February 2010 | |
CEO of ECX , Dr. Eleni Gebremedhin said here on Wednesday that DST is an innovative way to enable direct trade that is reliable, fully traceable, transparent, and sustainable.
Dr. Eleni said by coordinating buyers and seller, DST adds value to farmers, who can benefit from greater competition and to buyers, who can discover truly special coffees.
DST also enables trade of certified coffees, such as Organic certified, Fair Trade, RainForest, among others.
She said DST is established as a monthly bidding session in which small farmer cooperatives and commercial growers may deposit specialty grade coffees in advance in ECX warehouses.
Dr. Eleni said international buyers pre-register for the DST session and are able to order samples and to participate in a cupping session prior to the bidding.
A condition for participation in DST is that farmers will receive a minimum of 85 per cent of the final export price, a historic first for Ethiopia’s coffee farmers who are considered to normally receive below 40 per cent, among the lowest share of the final price in the world.
“DST closes the real gap between farmers seeking to benefit from the international market and buyers interested in tracing these coffees to their origin. DST also raises the visibility and profile of all Ethiopian coffee, and thus is a clear win-win for all” stated Dr. Eleni .
There are 44 lots of specialty coffee presented for sale in the first DST session, representing 35 primary cooperatives and nine commercial growers. More than half of the coffees are graded above specialty cupping score of 85, indicating top quality.
There are 27 registered international buyers, representing coffee importers and roasters in North America, Europe, and Japan. (ENA) |
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