• FRA hopes that this move will promote competition and enhance farmers’ economic welfare.
• ZAMACE platform is an exclusively mandated entity prescribed to carry out this mandate.
• It is a transparent market place for the trading of commodities.

Food Reserve Agency (FRA) has disclosed that it has commenced trading of 100,000 metric tonnes of soya beans on the Zambian Commodity Exchange (ZAMACE) platform.

Agency Public Relations Coordinator John Chipandwe said in a statement that ZAMACE platform is an exclusively mandated entity prescribed to carry out this mandate under the Agricultural Credits Act No. 35 of 2010 of the Laws of Zambia.

Mr. Chipandwe stated that FRA hopes that this move will promote competition and enhance farmers’ economic welfare.

“ZAMACE is a transparent market place for the trading of commodities, certification of storage sites, grading and valuation of stored commodities under warehouse receipts, as well as an enabler for the financial sector to finance warehouse receipts.”

“In this regard, stakeholders interested in buying the FRA soya beans are requested to register on the ZAMACE platform and express their intentions formally and as stipulated on the platform,” Mr. Chipandwe said.

He added that the Agency will also be trading part of its maize stock on the same platform and this practice shall become the norm.

“ZAMACE membership is open to individuals or corporate entities looking to participate in the commodities market in Zambia and the African continent,” he said.