AHCX projects higher commodity prices this week
Auction Holdings Limited Commodities Exchange (AHCX) expects higher prices this week due to improved quality thereby benefitting farmers, aggregators, and traders, according to its recent sales statistics.
Malawi’s sole commodities exchange that started trading this year, said that prospects for positive price trends are evident due to improved quality as harvesting season advances and moisture content stabilises.
The commodities exchange has projected that between August 19 to 23 maize will trade between K110 and K142 per kg while soya beans will sell between K135 and K165 per kg.
AHCX has also projected that pigeon peas prices will range between K125 and K137 per kg while ground nuts will sell at a minimum K240 and a maximum K270 per kg.
Traders in sugar beans are advised to expect prices between K290 and K320 per kg in the week.
However, the statistics indicate that soya beans prices in Lilongwe went up, trading at K160 per kg as at August 15. Soya beans at Kasungu traded at K156 per kg, pigeon peas in Limbe traded at K135 per kg while in Balaka the price was 125 per kg.
Launching its operations in July, AHCX board chairperson Evans Matabwa said the exchange will set the terms of trade for our agricultural commodities that will translate to an economic revolution for the country.
He noted that the commodity exchange will reduce transactional costs associated with the trading of commodities and hence will further prompt value addition, maximise returns throughout the value chain.
AHCX trades in commodities including soya beans, groundnuts, pigeon peas and maize. The minimum required quantity is three metric tonnes for all except groundnuts, pigeon peas and sugar beans which are pegged at one metric tonne.
According to its website, AHCX recorded its largest sale date on 23 July 2013, trading 70 lots, in over K32 million worth of commodities practically wiping out all stocks in its Kasungu warehouse.
The commodities exchange is operating a structured and organised market platform that is accessible by all stakeholders and is facilitating trading in agricultural commodities for both local and foreign participants.
