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    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

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Listing Soyabeans on Commodity Exchange to boost earnings of farmers – GCX boss

byBobbie Osei
April 16, 2019
in Agriculture, Business, Top Stories
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The Chief Executive Officer of the Ghana Commodity Exchange (GCX), Dr. Kadri Alfa is confident the listing of soyabeans on the Exchange will help turn around the fortunes of soybean farmers across the country.

The commencement of trading of soybean on the Ghana Commodity Exchange brings to three the number of commodities being traded on the exchange, with the other two being white and yellow maize.

Speaking to Citi Business News after the historic listing, Dr. Kadri Alfa said stringent standards that will accompany the handling of the Soybeans (procured by GCX), will not only ensure better prices for farmers but will lead to a higher demand for the commodity from both local and international buyers.

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“As we are aware, there are a lot of problems with soya particularly in terms of the quality and the price that is given to the farmers. We believe that by structuring the trade, we would ensure grading and standardization as well as price discovery which will lead to the farmers getting better prices from both local and international buyers. The production of soya is certainly bound to increase if the farmers get better prices for the crop.”

The country currently cultivates about 30,000 metric tonnes of soya with about 90 percent coming from the Northern region.

The average price of soybeans according to research by the GCX is between GHC98 and GHC120, for the 50kg bag size.

Launch of GCX

President Akufo-Addo in November 2018, inaugurated the Ghana Commodity Exchange (GCX) for the buying and selling of listed agricultural commodities in the country.

It was aimed at establishing linkages between agricultural and commodity producers and buyers to enable them secure competitive pricing.

Speaking at the inauguration, President Akufo-Addo assured that government was putting in measures to establish a special scheme that will provide funds for farmers at low interest rates.

The move according to the president will help the planting for food and jobs initiative as well as help Ghanaian farmers become competitive.

–

By: Bobbie Osei | citibusinessnews.com | Ghana

 

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