The Zambian Commodity Exchange(ZAMACE), in conjunction with the Johannesburg Stock Exchange(JSE), recently finalised their grain futures contracts. These contracts would provide a tool for farmers and grain traders to protect themselves against future movement in prices, and will also allow grain traders to proved competitive prices for their clients.
If you are an interested farmer or traders, here is a guide, provided by ZAMACE, worth reading:
The services provided by ZAMACE include the following:
- A warehouse certification process backed by an electronic warehouse receipts system. Warehouse inspection and certification services, facilitating the development of a warehouse receipt system in Zambia to support the standardised trading platform and to facilitate asset-backed financing in the agricultural sector
- A spot trading platform for the sale and purchase of commodities held under receipt to ensure guaranteed delivery and settlement. A spot trading platform offering price discovery, standardised contracts and processes and guaranteed settlement
- An agricultural futures market for Zambian commodities in association with the Johannesburg Stock Exchange, underpinned by warehouse receipts. ZAMACE will be responsible for certifying the warehouses issuing JSE warehouse receipts, for marketing the products offered by the JSE and for facilitating access to the market through partnership brokerage
- Dispute resolution through arbitration embedded in the standardised contracts
- Market information dissemination
Email ZAMACE at firstname.lastname@example.org or call +26096043226 if you are interested.