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Wednesday, May 29, 2024
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Horticulture, livestock to be admitted on Zimbabwe Mercantile Exchange

Story by Stanley James, Business Editor

THE Zimbabwe Mercantile Exchange (ZMX) is set to add horticulture and livestock to its trading platform to add value to agricultural produce.

The move comes after the government liberalised trading of agricultural commodities last year.

With maize, sorghum, soya bean, sugar beans, sunflowers and wheat already trading on the ZMX, more commodities are set to be admitted this year.

ZMX Chief Executive Officer Mr Collin Tapfumaneyi revealed plans to include horticulture and livestock on the market.

“The thrust is how best we can unlock value for the farmers in response to the transformation of the farming sector that has in the past three years led to huge milestones. It is within that perspective where we are seeing the valid of livestock and horticulture produce being a key component of further enhancing returns to the farmers, as such discussions are in progress on how best we will admit the two strategic commodities as we seek to unlock value in overall value chains.”

The exchange is pinning hopes for growth on increased farming output.

“The outlook remains strong, taking into account the importance of the agricultural value chains in the economy to an extent that despite challenges, we are confident of growth that is arising from government interventions and support to the farmers,” added Mr Tapfumaneyi.

The ZMX was set up to facilitate an open market for commodities with willing buyers and sellers providing price discovery mechanisms.

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