AHCX to change produce trading
President Joyce Banda says Auction Holdings Limited Commodities Exchange (AHCX) will transform the agriculture sector as farmers will no longer be ripped off by vendors who buy produce at very cheap prices.
Speaking during the official opening of the AHLX market in Lilongwe on Thursday, Banda said Malawian farmers need to get best prices of what they produce and by opening the commodity exchange market Auction Holdings Limited (AHL)is setting the pace in the agriculture sector.
“We want our farmers to get the best prices of whatever they produce. Our farmers have complained that they get poor prices from vendors and this market is a solution to their problems,” said Banda.
She commended AHCX officials for instantly introducing the commodity exchange market because farmers will be spoilt for choice as regards markets for their produce.
“As the President, I want all our farmers to get the best prices for whatever they produce and AHCX is one of the best solutions,” said Banda.
Chairperson of the AHL Jerry Jana said the opening of the AHCX will open avenues for farmers to start producing all kinds of crops at commercial level.
Said Jana: “Farmers now have the opportunity to sell their produce in a well-structured market that will not rip them off.”
AHL has so far pumped in K4 billion to set up the markets in all the regions of the country, but it is expected that the company will spend about $15 million to have its presence felt all over the country.
