Com­modi­ties ex­change ready for roll­out next July

The African - - MARKETS -

Tan­za­nia Mer­can­tile Ex­change (TCX) is set to start op­er­a­tions in the next fis­cal year af­ter tack­ling some is­sues re­lated to ware­house re­ceipt. TCX is ex­pected to start with cashew nut whose mar­ket­ing sea­son is be­tween Septem­ber and Jan­uary.

The cash crop was cho­sen, thanks to its ware­house re­ceipt sys­tem al­ready in place. Cap­i­tal Mar­kets and Se­cu­ri­ties Author­ity (CMSA) Pub­lic Re­la­tions Man­ager Charles Shir­ima said in Dar es Salaam last week that cur­rently ex­perts are do­ing gap anal­y­sis study to as­cer­tain the chal­lenges that af­fected the ware­house sys­tems prior to a sen­si­ti­sa­tion cam­paign for the launch of ex­change.

The team, com­pris­ing CMSA ex­perts, has vis­ited the cashew grow­ing ar­eas in Lindi, Mt­wara and Moro­goro to get first-hand in­for­ma­tion on the chal­lenges en­gulf­ing ware­hous­ing sys­tem.

“We plan to visit the same ar­eas next time and work out the so­lu­tion for the chal­lenges... we see no rea­son of in­tro­duc­ing a new prod­uct while farm­ers are com­plain­ing about the ware­house sys­tem,” Mr Shir­ima said.

CMSA had ear­lier an­nounced that the ex­change will kick-off this month but it has pushed back the launch­ing date, pend­ing the study. The prepa­ra­tions, in­clud­ing the reg­u­la­tions to guide the mar­ket op­er­a­tions, were go­ing on well.

Other crops ex­pected in

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