diff --git a/app/controllers/admin/enterprises_controller.rb b/app/controllers/admin/enterprises_controller.rb
index 5b2744d718..970c09a7ee 100644
--- a/app/controllers/admin/enterprises_controller.rb
+++ b/app/controllers/admin/enterprises_controller.rb
@@ -1,5 +1,6 @@
 require 'open_food_network/referer_parser'
 require 'open_food_network/permissions'
+require 'open_food_network/order_cycle_permissions'
 
 module Admin
   class EnterprisesController < ResourceController
diff --git a/app/controllers/api/exchange_products_controller.rb b/app/controllers/api/exchange_products_controller.rb
index e9e3ec537b..3c20c7c764 100644
--- a/app/controllers/api/exchange_products_controller.rb
+++ b/app/controllers/api/exchange_products_controller.rb
@@ -1,3 +1,5 @@
+# frozen_string_literal: true
+
 # This controller lists products that can be added to an exchange
 module Api
   class ExchangeProductsController < Api::BaseController
@@ -29,17 +31,21 @@ module Api
 
     def render_variant_count
       render text: {
-        count: Spree::Variant.
-          not_master.
-          where(product_id: products).
-          count
+        count: variants.count
       }.to_json
     end
 
+    def variants
+      renderer.exchange_variants(@incoming, @enterprise)
+    end
+
     def products
-      ExchangeProductsRenderer.
-        new(@order_cycle, spree_current_user).
-        exchange_products(@incoming, @enterprise)
+      renderer.exchange_products(@incoming, @enterprise)
+    end
+
+    def renderer
+      @renderer ||= ExchangeProductsRenderer.
+        new(@order_cycle, spree_current_user)
     end
 
     def paginated_products
diff --git a/app/services/exchange_products_renderer.rb b/app/services/exchange_products_renderer.rb
index faadba34f1..d1a0b0a225 100644
--- a/app/services/exchange_products_renderer.rb
+++ b/app/services/exchange_products_renderer.rb
@@ -1,3 +1,7 @@
+# frozen_string_literal: true
+
+require 'open_food_network/order_cycle_permissions'
+
 class ExchangeProductsRenderer
   def initialize(order_cycle, user)
     @order_cycle = order_cycle
@@ -12,6 +16,14 @@ class ExchangeProductsRenderer
     end
   end
 
+  def exchange_variants(incoming, enterprise)
+    variants_relation = Spree::Variant.
+      not_master.
+      where(product_id: exchange_products(incoming, enterprise).select(&:id))
+
+    filter_visible(variants_relation)
+  end
+
   private
 
   def products_for_incoming_exchange(enterprise)
@@ -21,12 +33,16 @@ class ExchangeProductsRenderer
   def supplied_products(enterprises_query_matcher)
     products_relation = Spree::Product.where(supplier_id: enterprises_query_matcher)
 
+    filter_visible(products_relation)
+  end
+
+  def filter_visible(relation)
     if @order_cycle.present? &&
        @order_cycle.prefers_product_selection_from_coordinator_inventory_only?
-      products_relation = products_relation.visible_for(@order_cycle.coordinator)
+      relation = relation.visible_for(@order_cycle.coordinator)
     end
 
-    products_relation
+    relation
   end
 
   def products_for_outgoing_exchange
diff --git a/spec/services/exchange_products_renderer_spec.rb b/spec/services/exchange_products_renderer_spec.rb
index 2af3636e3d..3293d27709 100644
--- a/spec/services/exchange_products_renderer_spec.rb
+++ b/spec/services/exchange_products_renderer_spec.rb
@@ -26,4 +26,38 @@ describe ExchangeProductsRenderer do
       end
     end
   end
+
+  describe "#exchange_variants" do
+    describe "for an incoming exchange" do
+      it "loads variants" do
+        exchange = order_cycle.exchanges.incoming.first
+        variants = renderer.exchange_variants(true, exchange.sender)
+
+        expect(variants.first.product.supplier.name).to eq exchange.variants.first.product.supplier.name
+      end
+
+      describe "when OC is showing only the coordinators inventory" do
+        let(:exchange_with_visible_variant) { order_cycle.exchanges.incoming.second }
+        let(:exchange_with_hidden_variant) { order_cycle.exchanges.incoming.first }
+        let!(:visible_inventory_item) { create(:inventory_item, enterprise: order_cycle.coordinator, variant: exchange_with_visible_variant.variants.first, visible: true) }
+        let!(:hidden_inventory_item) { create(:inventory_item, enterprise: order_cycle.coordinator, variant: exchange_with_hidden_variant.variants.first, visible: false) }
+
+        before do
+          order_cycle.prefers_product_selection_from_coordinator_inventory_only = true
+        end
+
+        it "renders visible inventory variants" do
+          variants = renderer.exchange_variants(true, exchange_with_visible_variant.sender)
+
+          expect(variants.size).to eq 1
+        end
+
+        it "does not render hidden inventory variants" do
+          variants = renderer.exchange_variants(true, exchange_with_hidden_variant.sender)
+
+          expect(variants.size).to eq 0
+        end
+      end
+    end
+  end
 end