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Commodities market to boost agriculture.

by Business correspondent
23 Dec 2010 at 13:36hrs | Views
THE long-awaited Zimbabwe Commodities Exchange Market (ZCEM) is set to become operational next month after stakeholders in the agriculture sector finalised modalities to kick-start the project.
The market, which was proposed about a decade ago, is expected to enhance the marketing of agricultural produce.
In an interview last week, Minister of Industry and Commerce Professor Welshman Ncube said the market would boost farmers' fortunes. 
"The opening of the market is a remarkable development in the agriculture industry," he said.
"We now have centralised product and agriculture information, making business convenient.
"All the structures necessary for the operation of the market are already in place and the ZCEM will be formally launched next month."
Prof Ncube said key stakeholders agreed on the functions of the market, adding that Government would be the majority shareholder.
He said the project would align agro-produce prices with those prevailing on the international commodities market. 
He added that agro-dealers across the world now have an opportunity to invest in the agricultural sector.
"Stakeholders, including farmers, Government and agro-financiers have agreed on the modalities of running the market," he said.
"The market will be linked to other international markets and will be trading in agricultural commodities only and crop prices will be determined by market forces.
"Producers should now register to list on the market as all the parameters have been agreed upon by all stakeholders involved." 
Over the years, farmers have been struggling to find lucrative markets for their products. In some instances, Government intervened to resolve pricing disputes between producers and buyers.

Source - Byo24