Experts from the Commodity Exchange in Ethiopia are to train stakeholders and personnel of the Ghanaian Commodity Exchange according to Ms. Hanna Tetteh Ghanaian Minister of Trade and Industry.
The training is to begin in the first quarter of 2012 she said.
The Commodity exchange will play a significant role in encouraging the cultivation of staple food crops and allow agriculture to flourish as business she noted.The Ghanaian Commodity Exchange will be modeled after the Ethiopian Exchange utilizing a hybrid of the Warehouse Receipt System and a Trading Platform.
The system mandates warehouses in different parts of the country to receive grains from farmers. The quality of the grain is graded and weights are assigned to price the products. The farmers receive receipts showing the amount of products that they have in the warehouses for trading.
The Warehouse Receipt System assures the quality and quantity because of correct system of storage and value setting.
The commodity exchange will also open avenues of employment for many in the agricultural value chain in Ghana as well as increasing the market. The Ethiopian Commodity Exchange is said to trade an estimated 50 million US dollars while the Ghana Stock Exchange currently trades an average of 2 million US dollars.
Source: Daily Graphic
