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Tuesday, June 6, 2023

Government approves trading of wheat on Zimbabwe Mercantile Exchange

By Stanley James, Business Editor

THE government has approved the trading of wheat on the Zimbabwe Mercantile Exchange (ZMX) to ease the burden of financing the purchase of grains and oils on behalf of the private sector.

Before the full operationalisation of the exchange, the government moved in to approve the trading of strategic commodities on the exchange, with wheat being the latest.

“The trading of the commodities is being intensified and in recent months we have been granted approval to trade wheat,” said Colleen Tapfumaneyi, ZMX chief executive officer.

Agronomist, Dr Renneth Mano explained the importance of trading commodities on the exchange.

“The trading of commodities on the exchange will also help the government in reducing the dependency on financing the commodities,” he said.

Zimbabwe’s commodity exchange is being modelled in line with global trends.

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