Auction Holdings Commodities Exchange (AHCX)—a structured market for buyers and sellers of agricultural produce—said there is a general supply drop of rice, reflected in the price increases of the commodity on the parallel markets.
At AHCX, a model based on a holistic and integrated approach in linking all of its business and support operations into a single technology platform, the highest price for rice was K465 per kilogramme (kg) with the lowest recorded at K400 per kg.
However, according to the market’s report, groundnuts, at 64 percent, accounts for the largest volume of all the commodities brought to the market.
The crop is selling at K385 per kg as the lowest prices with K420 per kg being the highest.
Soya beans trail groundnuts accounting for 17 percent, pigeon peas at 13 percent, maize five percent and sugar bean at one percent.
Soya beans is selling at the lowest price of K120 per kg with the highest price at 160 per kg, pigeon peas’ lowest price is K200 per kg with the highest price at 250 per kg and maize is selling at K70 per kg being the lowest price at K115 per kg highest price.
“Meanwhile, traders hoarding 2012/13 maize and soya beans stocks are encouraged to off-load as the 2013/14 market season advances,” said the AHCX in a statement.
The integrated AHCX system is a cohesive approach powering the end-to-end operations from membership to quality certification in laboratories to collateral management to trading to clearing and settlement to market information dissemination.
Earlier, AHCX head of operations Davis Manyenje said they have managed to attract the attention of the international commodities importers from across the globe, registering in excess of $1.9 billion of trade inquiries in 2013.
He said this confirms the transformational path the company has embarked on in so far as commodities trading are concerned.
The exchange is a fully electronic market, bringing in transparency and empowering the farmers by disseminating market information in real time to all market players; and at a later stage, to provide the market with options for risk management by offering futures trading.