Zimbabwe to start commodity exchange, ending monopoly

Zimbabwe opened a commodities exchange to end the state monopoly on grain trading. The nation effectively closed its Agricultural Commodities Exchange in 2001 when Mugabe gave the state-owned Grain Marketing Board a monopoly on the trade of corn and wheat. The new commodities exchange, which will be managed by the state, banks and farmers’ unions, will initially trade only grains, cereals and oil seeds. Commodity exchanges are considered to be part of a move to try to revitalize agricultural productivity in Africa and could be seen as part of a holistic solution. Read more here.

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