Commodity Exchange Takes Off
Mar 21, 2003
THE Uganda Commodity Exchange Limited (UCE) has received increased interest from farmers and buyers of agricultural produce a few weeks after inception.<br>
By Stephen Ilungole
THE Uganda Commodity Exchange Limited (UCE) has received increased interest from farmers and buyers of agricultural produce a few weeks after inception.
The buyers include exporters, importers, schools and processors, a senior official said in an interview recently.
A commodity exchange is a place where buyers and sellers of commodities meet, determine prices and conclude deals.
The exchange therefore provides a central market place for buyers and sellers of agricultural commodities in an orderly and transparent manner with a back-up of an arbitration facility.
The UCE assistant manager for technical duties Johnny Ssempebwa said the sensitisation in the countryside and the recent publicity in the local press, had led to increased volumes being traded at the exchange and more stakeholder s seeking for membership.
"From the demand side, interest has skyrocketed. We have seen the value in sourcing commodities quickly. Buyers have asked for tonnes of sesame seeds (sim sim), beans, cotton, black sun flower, maize, chillies, cocoa and soybean," Ssempebwa said.
He said horticulture and honey farmers had also made their offers.
THE Uganda Commodity Exchange Limited (UCE) has received increased interest from farmers and buyers of agricultural produce a few weeks after inception.
The buyers include exporters, importers, schools and processors, a senior official said in an interview recently.
A commodity exchange is a place where buyers and sellers of commodities meet, determine prices and conclude deals.
The exchange therefore provides a central market place for buyers and sellers of agricultural commodities in an orderly and transparent manner with a back-up of an arbitration facility.
The UCE assistant manager for technical duties Johnny Ssempebwa said the sensitisation in the countryside and the recent publicity in the local press, had led to increased volumes being traded at the exchange and more stakeholder s seeking for membership.
"From the demand side, interest has skyrocketed. We have seen the value in sourcing commodities quickly. Buyers have asked for tonnes of sesame seeds (sim sim), beans, cotton, black sun flower, maize, chillies, cocoa and soybean," Ssempebwa said.
He said horticulture and honey farmers had also made their offers.