GAPWM3   1100  -  0 
GEJWM1   1240  -  0 
GEJWM2   1200  -  0 
GEJWM3   1110  -  0 
GEJWM4   1000  -  0 
GEJYM2   1240  -  0 
GEJYM3   1000  -  0 
GKIWM3   1200  -  0 
GKUWM1   1480  -  0 
GKUWM2   1400  -  0 
GKUWM3   1100  -  0 
GKUWM4   1100  -  0 
GKUYM1   1480  -  0 
GKUYM3   1160  -  0 
GKUYM4   1080  -  0 
GSAWM1   1300  -  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   1100  -  0 
GTAYSB1   2000  -  0 
GTAYSB2   2000  -  0 
GWAWM1   1340  -  0 
GWAWM2   1340  -  0 
GWAWM3   1400  -  0 
GWAYM1   1479  -  0 
GWAYM2   1340  -  0 
GWAYSB1   2000  -  0 
GWEWM1   1340  -  0 
GWEWM2   1420  -  0 
GWEWM4   1000  -  0 
GWEYM1   1340  -  0 
GWEYM2   1340  -  0 

News | Ghana Commodity Exchange


Date : 5th Sep, 2019




The Membership and Business Development department of the Ghana Commodity Exchange brought together farmers, brokers and financial institutions with the aim of reiterating what GCX is, how it works, the benefits as well as educate farmers especially on price mechanism, and how financial institutions will partner GCX to deliver the WRF. This session was conducted with the support of the Warehouse and Trading departments

When asked about their level of knowledge of the Exchange, the responses of the farmers, who hailed mainly from the Bono East and Brong Ahafo regions, were very positive. They had enough knowledge about GCX and how it works. The farmers from Sunyani however took the chance to know more since they were hesitant due to previous bad experiences.

The attendees were given a background of the problems GCX can and is solving and recapped what GCX is and its benefits to farmers and members by the head of the Membership Department. He encouraged farmers and members to take advantage of the GCX to trade their commodities which hitherto had been difficult to sell. He also informed the gathering the Exchange’s intent of getting warehouses in all the maize catchment areas as well as facilitation of trucks to cart the commodities from the districts to the main GCX warehouses at a reasonable fee. Mr. Ankrah informed the farmers that daily reference prices and graded prices per GCX ETP would be disseminated daily to ensure that they are informed of prevailing market trends and price their commodities appropriately.

The head of the Warehousing and Quality Control department then took the gathering through best practices, the GCX grading parameters and how GCX handles commodities prior to and once the grains reach the warehouse. In addition, the various warehouse charges were communicated thoroughly to the farmer; both the previous and current rates. This pleased the farmers since the previous charges had been an issue that prevented them from bringing their commodities to the Exchange.

The farmers in response then took turns to thank GCX for the good work done so far and what GCX intends to do with the financial institutions to activate the WRF.

Mr. Nathan Neizer and Madam Agnes Grimmon-Instiful of the Wenchi Rural Bank and Nsoatreman Rural Bank respectively took turns to tell the farmers their role in collaborating with the Ghana Commodity Exchange. They explicitly explained the proposed terms of monthly, quarterly interest rates of the facilities they will give out to farmers per the WRF and encouraged the farmers to take advantage of the GCX’s WRF and adhere to all set down procedures to enable them obtain the best value for their efforts.

Some of the farmers in attendance were then given the opportunity to raise certain teething concerns they had including a request for additional warehouses in Wenchi and Sunyani; as well as a desire for trucks and tricycles which allow them to cart produce from farms to the various GCX warehouses.

The Membership and Partnerships team assured these farmers senior management of GCX is working fervently to ensure activation of warehouses in all maize catchment areas and secure a truck or two for carting the commodities to the GCX warehouses in the middle belt and other areas nationwide. They then brought the event to a close by thanking the various participants for making the time to attend.