GEJWM1   1500  -  0 
GEJWM2   1340  -  0 
GEJWM3   1480  -  0 
GEJWM4   1380  -  0 
GEJYM2   1340  -  0 
GEJYM3   1400  -  0 
GKUWM1   1480  -  0 
GKUWM2   1440  -  0 
GKUWM3   1250  -  0 
GKUWM4   1100  -  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 
GTAWSO4   1500  -  0 
GTAYM1   1480  -  0 
GTAYM2   1350  -  0 
GTAYSB1   1800  -  0 
GTAYSB2   2275  -  0 
GWAWM1   1340  -  0 
GWAWM2   1340  -  0 
GWAWM3   1400  -  0 
GWAYM1   1479  -  0 
GWAYM2   1340  -  0 
GWAYSB1   2400  -  0 
GWEWM1   1340  -  0 
GWEWM2   1340  -  0 
GWEWM4   1040  -  0 
GWEYM1   1340  -  0 
GWEYM2   1340  -  0 
    

News | Ghana Commodity Exchange

GHANA COMMODITY EXCHANGE INTEGRATES 20 GHANAIAN FARMER GROUPS

Date : 27th Jun, 2019


GHANA COMMODITY EXCHANGE INTEGRATES 20 GHANAIAN FARMER GROUPS image


GHANA COMMODITY EXCHANGE INTEGRATES 20 GHANAIAN FARMER GROUPS

The Ghana Commodity Exchange (GCX) this week integrated 20 farmer-based organizations, representing over 60,000 small scale farmers in maize, soya bean and other crop farmers to trade on its electronic platform. The farmers will 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 farmer groups are mainly in 100 districts in the Northern, North East, Upper East, Upper West, Savannah, Bono, Brong Ahafo, Ahafo, Ashanti and Greater Accra Regions.

The Ghana Commodity Exchange with an agenda to link Ghanaian small-scale farmers to commodity and financial markets in Ghana, started trading late last year in White and Yellow maize contracts. The Exchange has recently added soya bean contracts to its list of traded commodities and will soon add sesame seeds and sorghum.

The farmer groups or their representatives will be registered members of the Exchange and will be eligible to trade commodities.

The Exchange is regulated by the Ghana Securities and Exchange Commission (SEC), hence it is necessary for the farmer groups to become members to enjoy the protection under the Law as well as other privileges that come with GCX membership, which include free post-harvest management training, free access to GCX price and market information, free linkage to markets in Ghana and West Africa,  access to safely deposit their grains in GCX certified warehouses across the country and be issued GCX warehouse receipts which could be used as collateral for loans from Ghanaian banks. GCX warehouse receipts provide proof of ownership of grains of a certain quality and quantity. Currently GCX has over 120 members, comprising 40 farmer groups representing over 120,000 farmers, mostly small-holder farmers.

The Exchange has so far signed and integrated 25 commodity brokers to represent farmers and other market actors who are constrained from trading on the GCX platform by themselves.

The vision of GCX is to create a marketplace for Ghanaian farmers that is efficient and transparent, that eliminates speculation from middlemen and reduces waiting time for payments and delivery. The farmers are also able to discover true prices and volumes presented to the Exchange for trade. The Government of Ghana has supported the GCX financially in the acquisition of a world class trading platform, warehouses with laboratory facilities to test, grade and store commodities, and facilities to settle and deliver commodities within 24 hours of trade.