By NATION REPORTER
THE Food Reserve Agency (FRA) has commenced the selling of 100, 000 metric tonnes of soya beans on the Zambian Commodity Exchange (ZAMACE) platform.
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ZAMACE is a transparent market place for the trading of commodities, certification of storage sites, grading and valuation of stored commodities under warehouse receipts, as well as an enabler for the financial sector to finance warehouse receipts.
It is an exclusively mandated entity prescribed to carry out this mandate under the Agricultural Credits Act number 35 of 2010 of the laws of Zambia.
FRA Public Relations Coordinator, John Chipandwe, said the agency is notifying the public that it has partnered with ZAMACE to trade part of its soya beans on the ZAMACE platform.
Mr Chipandwe said stakeholders interested in buying the FRA soya beans were being requested to register on the ZAMACE platform and express their intentions formally.
“ZAMACE membership is open to individuals or corporate entities looking to participate in the commodities market in Zambia and the African continent. The agency hopes that this move will promote competition and enhance farmers’ economic welfare.”
“Further, the Agency is notifying the public that in future, it shall be trading part of its maize stock on the ZAMACE platform and this practice shall become the norm,” Mr Chipandwe said.
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