Ghana Opens Commodities Bourse in Push to Lift Farmer Income
- Trading in corn, soybeans, sorghum scheduled to start Tuesday
- Bourse to help eliminate wastage, often as high as two-thirds
Photographer: Luke Sharrett/Bloomberg
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Ghana is opening its first commodities exchange as the West African nation seeks to raise the income of farmers by connecting them with buyers for their produce, eliminating crop wastage.
The Ghana Commodities Exchange will Tuesday begin facilitating trade in yellow and white corn, soybeans and sorghum, Chief Executive Officer Kadri Alfah said in a phone interview Monday from the capital, Accra. The state-owned bourse will allow mostly small-scale farmers to deliver as little as one metric ton of produce to warehouses and be paid within a day after a transaction, he said.