FRA COMMENCES TRADING OF SOYA BEANS ON THE ZAMACE PLATFORM
PRESS STATEMENT FOR IMMEDIATE RELEASE
FRA COMMENCES TRADING OF SOYA BEANS ON THE ZAMACE PLATFORM
DATE: Wednesday 25TH OCTOBER 2023
The Food Reserve Agency (FRA) has commenced the selling of one hundred thousand metric tonnes (100,000 MTs) of soya beans on the Zambian Commodity Exchange (ZAMACE) platform.
ZAMACE is a transparent market place for the trading of commodities, certification of storage sites, grading and valuation of stored commodities under warehouse receipts, as well as an enabler for the financial sector to finance warehouse receipts. It is an exclusively mandated entity prescribed to carry out this mandate under the Agricultural Credits Act No. 35 of 2010 of the Laws of Zambia.
The Agency (FRA) is notifying the public that it has partnered with ZAMACE to trade part of its soya beans (100,000 MTs) on the ZAMACE platform. In this regard, stakeholders interested in buying the FRA soya beans are requested to register on the ZAMACE platform and express their intentions formally and as stipulated on the platform.
ZAMACE membership is open to individuals or corporate entities looking to participate in the commodities market in Zambia and the African continent. The Agency hopes that this move will promote competition and enhance farmers’ economic welfare.
Further, the Agency is notifying the public that in future, it shall be trading part of its maize stock on the ZAMACE platform and this practice shall become the norm. For more information, please contact FRA or visit the ZAMACE website.
(Original Signed by)
John Chipandwe
Public Relations Coordinator
John Chipandwe, Public Relations Coordinator
+260 211 286 097 / 095 286 097 / 0978 774 336
Email: fra@fra.org.zm Website: www.fra.org.zm
