Ghana: GCX benefit 350,000 smallholder farmers

The Ghana Commodity Exchange (GCX) has ensured fair prices for more than 50,000 small-scale farmers who have participated in trading since its inception in 2018. These farmers have collectively sold commodities worth GHS 280 million through the Exchange.

Additionally, more than 350,000 individuals have received training and capacity building initiatives.

These include both registered and non-registered members of the Exchange who utilize the platform to sell agricultural products such as maize and soya.

Through its grading system for agricultural products, the Exchange has also guaranteed the sale of quality and standardized goods, ensuring that products meet the necessary specifications for their intended purposes.

The Exchange is therefore, entreating farmers, traders, processors and other interested parties to embrace the idea of trading on the Exchange to secure fair prices for their produce and provide quality food products for the Ghanaian consumer.

“Transparency and efficiency are the bedrock of the Exchange. GCX does not set prices. Negotiations take place solely between the seller and the buyer, we don’t interfere, we allow the market forces to operate on their own,” the Chief Executive Officer (CEO), Tucci Ivowi, told the Graphic Business in an interview in Accra.

She noted that these farmers come together under Farmer Based Organisations (FBOs) to enable them aggregate and then trade on the Exchange.

“Initially everyone thought we would struggle convincing these farmers to trade on the Exchange but they were the most willing to try! After experiencing the efficiency, transparency and the speed at which they received their money after trade, they are the biggest advocates of the Exchange,” she stated.