Online Reporter
Online Reporter
Lands, Agriculture, Fisheries, Water and Rural Development Minister Dr Anxious Masuka has commended the Zimbabwe Mercantile Exchange’s growth trajectory.
The electronic agricultural commodity platform that was launched in August 2021 facilitates the trade of commodities and connects Zimbabwean traders with regional markets.
It has established a network of 33 warehouses, providing 642 000 tonnes of storage space in seven of the country’s 10 provinces.
Addressing delegates at the Association of Commodity Exchanges (A-ACX) Annual Conference in Victoria Falls yesterday, Dr Masuka said: “The ZMX is increasingly becoming an active trading platform as farmers and traders become more aware of the exchange mechanism that guarantees timely payments.
“Consequently, warehouse receipts of 437 000 tonnes of maize, wheat, soya beans, red and white sorghum, ginned cottonseed, sugar beans, white rice and rice bran have been cumulatively issued by ZMX, which is now operating weekly auctions.”
