ECX Sesame Contract

1. CONTRACT CLASSIFICATIONS AND DELIVERY CENTRES

No. Sesame Type Delivery Symbol Grade Origin
Location
1 Whitish Humera WHGS 1,2,3,4,UG Kafta Humera, Wolkait, Asgede Tsimbila,
Humera/Gonder (HM) Tahtay Adiyabo, Tsegedie, West
Sesame Seed Armachiho (Abderafi, Abreha Jira,
Korhumer), and surroundings.
2 Whitish Metema WHGS 1,2,3,4,UG Metema, Quara and surroundings
Humera/Gonder (MT)
Sesame Seed
3 Whitish Gonder WHGS 1,2,3,4,UG Tach Armachiho, Tegedie, West
Humera/Gonder (GN) Armachiho (Zemene Merik, Meharish)
Sesame Seed and surroundings.
4 Mixed Humera MHGS 1,2,3,4,UG Kafta Humera, Wolkait, Asgede Tsimbila,
Humera/Gonder (HM) Tahtay Adiyabo, Tsegedie, West
Sesame Seed Armachiho (Abderafi, Abreha Jira,
Korhumer), and surroundings.
5 Mixed Metema MHGS 1,2,3,4,UG Metema, Quara and surroundings.
Humera/Gonder (MT)
Sesame Seed
6 Mixed Gonder MHGS 1,2,3,4,UG Tach Armachiho, Tegedie, West
Humera/Gonder (GN) Armachiho (Zemene Merik, Meharish)
Sesame Seed – and surroundings.
7 Whitish Wollega Assossa WWSS 1,2,3,4,5,UG Adabuldeglu, Sirba Abay, Mao Komo,
Sesame Seed – (AS) Bambasi, Assossa, Sherkole, Homsha,
Mengie, Kumruk, Kamashi, Agelo Meti,
Yaso, and surroundings.
8 Whitish Wollega Bure (BR) WWSS 1,2,3,4,5,UG Bulen, Pawe, Dibatie, Dangur, Mandura,
Sesame Seed Wonbera, Guba and surroundings.
9 Whitish Wollega Nekemte WWSS 1,2,3,4,5,UG Bolodge Genfoy, Kelem Wollega, West
Sesame Seed (NK) Wollega, East Wollega, Horogudru
Wollega, Illubabor, Jimma and
surroundings.
10 Whitish Wollega Addis WWSS 1,2,3,4,5,UG Southern Nations and Nationalities
Sesame Seed Ababa (AA) People Region (SNNP), Gambella
Region
11 Mixed Wollega Assossa MWSS 1,2,3,4,5,UG Adabuldeglu, Sirba Abay, Mao Komo,
Sesame Seed (AS) Bambasi, Assossa, Sherkole, Homsha,
Mengie, Kumruk, Kamashi, Agelo Meti,
Yaso, and surroundings.
12 Mixed Wollega Bure (BR) MWSS 1,2,3,4,5,UG Bulen, Pawe, Dibate, Dangur, Mandura,
Sesame Seed – Wonbera, Guba and surroundings.
13 Mixed Wollega Nekemte MWSS 1,2,3,4,5,UG Bolodge Genfoy, Kelem Wollega, West
Sesame Seed – (NK) Wollega, East Wollega, Horogudru
Wollega, Illubabor, Jimma and
Surroundings.
14 Mixed Wollega Addis MWSS 1,2,3,4,5,UG Southern Nations and Nationalities
Sesame Seed Ababa (AA) People Region (SNNP), Gambella
Region
15 Reddish Addis RDSS 1,2,3,4,UG Dessie, Belessa, Kemissie, and
Sesame Seed Ababa (AA) Surroundings
16 Mixed Reddish Addis MRSS 1,2,3,4,UG Dessie, Belessa, Kemissie, and
Sesame Seed Ababa (AA) Surroundings

ECX Sesame Contracts - October 2010 v2 Page 1

 ECX Sesame Contract

2. SESAME GRADING PARAMETERS

2.1 GENERAL REQUIREMENTS

Sesame Seeds shall have a good natural color, free of objectionable odor, free from live insects, free
from visible mould and have a maximum moisture content of 10% by weight.

2.2 DEFINITIONS

Moisture Content The moisture content, expressed on a wet weight bases, shall be determined
using an approved moisture meter.
Foreign matter Anything other than Sesame Seeds, which will pass through a 1.0 mm round
hole sieve and any mineral, animal or plant matter other than Sesame Seeds,
which will not pass through a 1.0 mm round hole sieve.
Good Natural Color The natural appearance of the grain, which is pure and has not been affected
by natural or man-made factors
Objectionable Odor Unpleasant smell that is caused by weathering, chemical contamination,
mould infection, disease or damage caused by insect.
Contrasting Colour Sesame seed which differs in colour from the predominant class.

2.3 GRADING PARAMETERS

1. Whitish Humera/Gondar Sesame Seed and Reddish Sesame Seed

Parameters Grade Grade 2 Grade 3 Grade 4 UG
1
Foreign Matter, max % by weight 1 3 5 7 15
Contrasting Colour, max % by weight 1 2 4 7 7

2. Whitish Wollega Sesame Seed

Parameters Grade 1 Grade 2 Grade 3 Grade 4 Grade 5 UG
Foreign Matter, max % by weight 1 3 5 7 10 20
Contrasting Colour, max % by weight 1 2 4 7 10 10

3. Mixed Humera/Gondar Sesame Seed and Mixed Reddish Sesame Seed

Parameters Grade 1 Grade 2 Grade 3 Grade 4 UG
Foreign Matter, max % by weight 1 3 5 7 15
Contrasting Colour, % by weight >7

4. Mixed Wollega Sesame Seed

Parameters Grade 1 Grade 2 Grade 3 Grade 4 Grade 5 UG
Foreign Matter, max % by weight 1 3 5 7 10 20
Contrasting Colour, % by weight >10
The lower of two grading parameters will determine the final grade of Sesame Seed.
SUBSTANDARD
Sesame seed shall be deemed to comply with this standard if upon inspection and grading the provision
in the above clauses are satisfied. Sesame seed which does not meet the requirements of the above

ECX Sesame Contracts - October 2010 v2 Page 2

 ECX Sesame Contract
clauses is considered as substandard and the owner shall treat the product to comply with
the above requirements.

PACKAGING
Packaging Each grade of Sesame shall be packed in clean and
sound 100 kg capacity polypropylene (PP) bags used no
more than once prior to deposit. Delivery will be effective
on Net Weight basis, which implies that weighing of
Sesame will be done on exclusive of bags basis and no
additional payment will be given for the cost of bag.

SAMPLING PROCEDURES
Sampling and analysis at time of deposit Conduct sampling and analysis using ECX standards
and delivery
Sampling procedure Sampling procedure based on ECX standards

Failing of sample Owner of the commodity has the right to request an

appeal of the sample and/or grade to the Warehouse
Manager/Supervisor

Dispute settlement If agreement is not reached on first two analyses, QSAE

or other appropriate agency.

ECX Sesame Contracts - October 2010 v2 Page 3

 ECX Sesame Contract

3. STANDARD TRADING TERMS

Standard Lot Size 50 quintals net weight

Tolerance limit: 4%

Maximum order size Maximum order size represents the maximum number of
(In 50Quintal increments) contracts that a Member may transact in a single transaction:
20 contracts or 1000 quintals

Tick size Minimum price increment or decrement that price may be

(minimum price movement) quoted: 1 Birr

Daily Position Limit The Daily Position Limit is the total quantity a member or a
client is allowed to buy or sell during a trading day:
For Member collectively for himself and all his clients – 1,000
lots
For Member for only himself or for a single client - 200 lots

Daily price filter The daily price filter is the maximum percentage range,
relative to the previous day’s closing price, outside of which
offer and bid prices may not fall or rise. ECX may change
these limits from time to time, on a pre-announced basis
6%

Warehouse Receipt All transactions must be based on ECX Warehouse Receipt,

indicating that commodities are in deposit in an ECX operated
or certified warehouse prior to trade. Such Warehouse Receipt
can be traded only once between

1. A producer or supplier and exporter or;

2. An exporter and another exporter for the re-trade of
less than a container of volume which remains from
an export.

Warehouse Receipt expiration Period The Warehouse receipt will be available for trading for a
period of 60 days from the day of deposit. Once traded, the
Warehouse Receipt will expire on the execution of the trade.

Penalty on warehoused goods after A penalty of 3.5% per day calculated on the tradable value
expiration using the closing price of the same grade as the warehoused
goods will be applied after the expiry of warehouse receipts.

Contract quote basis All prices will be quoted “Ex- Warehouse”, exclusive of taxes,
fees and charges.
Quotation Factor Prices are represented in Birr per Quintal.
Trading session Monday through Friday, with the exception of public holidays.

ECX Sesame Contracts - October 2010 v2 Page 4

 ECX Sesame Contract
4. STANDARD SETTLEMENT TERMS

Pay-in of Funds On Next business Day (T+1)

(Time when funds will be withdrawn
from buyer pay-in accounts).
Pay-out of Funds Next Business day (T+1)
(Time when funds will be deposited
into seller pay-out account)
Weight Tolerance Adjustment The weight adjustment within the tolerance for difference
between exact weight recorded and the contract standard
weight is adjusted at settlement

Exchange transaction fee 0.4 % of transaction value payable by seller and buyer

Handling and Product Certification fee Sampling and grading, weighting, loading and unloading fees-
Buyer- Birr 2.6 per bag/quintal.
Seller- Birr 2.7 Per bag/quintal.
Warehouse Storage charge Birr 0.16 Birr per bag/quintal per day for the first month and
Birr 0.32 Birr per bag/quintal per day for the second month.

ECX Sesame Contracts - October 2010 v2 Page 5

 ECX Sesame Contract
5. STANDARD DELIVERY TERMS

ECX Warehouse & Delivery Centers Addis Ababa, Metema Bure, Nekempte, Humera, Gondar,
Asossa

Delivery Notice Next working day after the trade day

(delivered to the Member representing
the buyer)
Pick Up Notice After delivery notice is issued but before trade plus ten (T+10)
(Member must fill out a pick up notice calendar days
(PUN) before picking up goods)
Delivery Period Trade plus ten (T+10) calendar days
(Number of days the buyer will have to
pick up the lots from the warehouse
without paying additional charges)
Failure to Pick up Buyer is responsible for making arrangement to pick up
commodity within the delivery period (T+10). There will be a
1% charge per day of the value of the trade if buyer fails to
pick up goods from warehouse after the allotted time.
Extension of Delivery Period As per the Exchange decision due to a force majeure or based
on other written request

ECX Sesame Contracts - October 2010 v2 Page 6