Auction Holdings Limited Commodities Exchange (AHCX), Malawi’s agricultural commodities trading platform, has said it is excited with the outcome of the Zimbabwe International Trade Fair (ZITF) which it says has enhanced its visibility on the international market.
AHCX participated at the ZITF which was held from April 22-26 2014 in Bulawayo and it is an annual event that attracts both international and domestic participants trading in various manufacturing and service industries.
This was the second time for AHCX to exhibit at this annual event following its maiden participation at the ZITF 2013.
“This year’s Fair provided an opportunity to follow up on trade contacts established previously, extending the brand visibility and publicity to neighbouring countries and beyond as well as presenting to potential clients the benefits of importing various agricultural commodities from Malawi through the Exchange,” said AHCX marketing manager Clement Mijoya.
Mijoya described the trade enquiries generated through AHCX participation at the fair as an exciting news to players and stakeholders in Malawi’s agricultural sector on the assurance of foreign buyers of commodities like groundnuts, sugar beans, soya beans and rice.
He said, in turn, foreign buyers have expressed interest to import large volumes from Malawi through a structured market because of quality, quantity and delivery assurances.
“This development stands to benefit the Malawi economy as a whole with regard to bringing in the much needed foreign exchange to drive economic growth in line with the National Export Strategy,” he added.
He said AHCX role is trade facilitation while the seller offers the commodities at open and competitive prices determined by prevailing economic circumstances as well as their profit margin.
Mijoya also said that AHCX has partnered with several financial institutions to support farmers and traders with warehouse receipt financing on commodities other than tobacco.
He, therefore, urged farmers, cooperatives and traders to deposit their commodities in large quantities at AHCX warehouse facilities spread across the country so that they can benefit from such an efficient and structured market system.