Operations for AHL Commodities Exchange (AHCX), a subsidiary of Auction Holdings Limited, are now running full throttle coordinated from its main base in Lilongwe.
AHL has invested about US$10 million in to enable trade in agricultural commodities for both local and foreign participants through a robust, price efficient, transparent and fair market structure for all stakeholders.
The exchange currently has trading points at Kasungu, Mponela, Limbe, Mzuzu, Karonga, Lilongwe, Balaka and Luchenza and it is expected to increase outreach by establishing other centres across the country before the year ends.
The exchange trades rice, maize, groundnuts, pigeon peas, soya beans and many more and AHCX communications officer Hellen Chabunya said the company’s marketing system has taken off well because of its good organisation and transparent trading system which many farmers and buyers have readily embraced.
Trading at AHCX markets currently take place twice a week, on Tuesdays and Thursdays and Chabunya said the exchange had a largest single day sale last Tuesday when K32 million was realised in 70 transactions that saw various crops, mainly soya beans, changing hands.
“Key to the revenue was the sale of 215 metric tonnes of grade-two soya which was bought at an average price of K149.5 per kilogramme at Kasungu and Mponela AHCX centres. Both farmers and buyers are now reaping from the system,” said Chabunya.
She said buyers place orders at prices that are commensurate with prevailing economic conditions and their cost structure and urged farmers to go and deposit their commodities in large quantities in order to utilise readily available markets.Follow and Subscribe Nyasa TV :