Commodity brokers to ease business transactions
The Agricultural Commodity Exchange (ACE) says newly-trained brokers will help in transforming the lives of smallholder farmers by getting them better prices for their produce.
ACE chief executive officer Kristian Moller said in an interview in Lilongwe on the sidelines of certificate presentation to brokers that they will significantly improve and scale up multi-stakeholder partnerships.
“The agricultural commodity exchange endeavors to develop structured trading system that integrate all market players into the formal market, facilitate trade, reduce price vitality and enhance food security. ACE focuses its operations on three complementing spheres, trade facilitation, implementation of warehouse receipt system and market information dissemination,” he said.
Moller said the five-day training course was designed to introduce the scope of ACE services, to outline the role and responsibilities of the brokers, to depend on participants’ knowledge of trading opportunities and to teach the brokers how to fully operate the ACE system.
Twenty-two individuals received ACE broker certificates.
“Becoming an ACE broker turns an individual into an agent who provides services to ACE clients both buyers and sellers and helps them make successful business decisions and transactions. Brokers build relationships with a solid client’s base to increase volumes traded and improve the terms on the contracts,” said Moller.
One of the brokers, Towera Masiku, commended ACE for stimulating production and training of various agricultural commodities brokers through the exchange, saying such a development is bound to put the country’s economy on the right growth path.
