GAPWM3   1100  -  0 
GEJWM1   1500  -  0 
GEJWM2   1340  -  0 
GEJWM3   1480  -  0 
GEJWM4   1380  -  0 
GEJYM2   1240  -  0 
GEJYM3   1000  -  0 
GKUWM1   1480  -  0 
GKUWM2   1440  -  0 
GKUWM3   1250  -  0 
GKUWM4   1080  -  0 
GKUYM1   1480  -  0 
GKUYM3   1180  -  0 
GKUYM4   1080  -  0 
GSAWM1   1340  -  0 
GSAWM2   1340  -  0 
GSAWSS4   5400  -  0 
GSAYM1   1340  -  0 
GTAWM2   1340  -  0 
GTAWM3   1384  -  0 
GTAWM4   1100  -  0 
GTAWSO3   1550  -  0 
GTAYM1   1480  -  0 
GTAYM2   1350  -  0 
GTAYSB1   2000  -  0 
GTAYSB2   1800  -  0 
GWAWM1   1340  -  0 
GWAWM2   1340  -  0 
GWAWM3   1400  -  0 
GWAYM1   1479  -  0 
GWAYM2   1340  -  0 
GWAYSB1   2400  -  0 
GWEWM1   1340  -  0 
GWEWM2   1420  -  0 
GWEWM4   1040  -  0 
GWEYM1   1340  -  0 
GWEYM2   1340  -  0 
    

News | Ghana Commodity Exchange

OVER 12,000 FARMERS TO BENEFIT FROM STORAGE & READY MARKET AS GCX PARTNERS JFB. IN JUABEN ASHANTI

Date : 4th Feb, 2020


OVER 12,000 FARMERS TO BENEFIT FROM STORAGE & READY MARKET AS GCX PARTNERS JFB. IN JUABEN ASHANTI image


Source: Ghana Commodity Exchange

 

Over 12,000 Farmers to Benefit from Storage & Ready Market as Ghana Commodity Exchange (GCX) Partners Juaben Food Bank Ltd (JFB). in Juaben Ashanti

A warehouse with a capacity of 1000MT has been constructed by Juaben Food Bank for farmers around the Juaben Municipal, Ejisu, Effiduase, Kumawu, Asokore and its environs.

 

The facility was constructed by JFB to support farmers around the area to store commodities for trade through the Ghana Commodity Exchange. The warehouse will facilitate the storage of grains by about 12,000 farmers located in the aforementioned farming communities.

 

As part of the agreement, GCX will operate the warehouse and provide services such as sampling, grading and quality assurance to farmers. The farmers will be linked to the Exchange’s electronic trading platform where the farmers can find buyers easily for their commodities at premium prices

 

The CEO of GCX Dr. Kadri Alfah explained that the grains from the beneficiary farmers would be cleaned, graded, fumigated, weighed and packaged into standard 50kg bags to increase their market appeal. The farmers would be able to access credit through their warehouse receipt which would be issued by GCX.

 

The Ghana Commodity Exchange established by the Government of Ghana in 2018, operates a national warehousing and warehouse receipt system, through which farmers in Ghana are able to access markets, undertake price discovery, reduce their transaction costs and manage operational and market risks. GCX currently operates warehouses in Afram Plain, Kumasi, Ejura, Wenchi, Kintampo, Tamale, Wa and Sandema where maize, soya, sorghum and sesame are stored for trade through the Exchange.

 

Source: Ghana Commodity Exchange

 

The Juaben Food Bank is a wholly-owned Ghanaian company with Nana Abayie Siriboe and Gary Adu-Darko as shareholders. It is an agro-processing and storage company with a vision of processing maize into maize grit, cassava into gari, rice milling and animal food processing with up to 5,000MT of storage capacity for storage of commodities.

 

The Executive Chairman of JFB, Nana Abeyie Siriboe stated that the warehouse will provide opportunities for farmers in the said areas. Farmers would now have the opportunity to combat persisting problems in the market such as; highly volatile seasonal prices, lack of weighing, grading, certification and limited access to credit. Theses problems addressed through the operations of the Ghana Commodity Exchange would benefit both producers and customers

 

Juaben is a town in the Ejisu-Juaben Municipal district located in the Ashanti Region of Ghana. Major crops cultivated in the area are maize, cassava, rice, cocoa and oil palm, therein Juaben is thus considered as a major contributor to crop production in Ghana.

 

Commodities to be stored in the warehouse are maize, soyabeans and rice grains. The warehouse will also be fitted with modern equipment including dryers to enable the drying of harvested grain, no matter the weather conditions that might prevail at any given point in time.

 

This partnership is also under the auspices of the "One District One Factory" initiative and this reflects the major role that the government plays to support our farmers through the Ghana Commodity Exchange.

 

Ghana Commodity Exchange is a platform that serves as a link between buyers and sellers of agricultural commodities for the purposes of trade. It enables farmers receive a range of services which include grain testing, grading, weighing, storage, re-bagging, fumigation and short-term loans (using their grains as sole collateral), and other financial services. The services provided for by Ghana Commodity Exchange go a long way to ensuring food security and empowering small-scale crop producers in farming communities.