TANZANIA Mercantile Exchange (TMX) will begin operations after a meeting with key stakeholders in sesame oilseeds crops, the Chief Executive Officer, Godfrey Malekano
He told the `Daily News' yesterday that
the meeting is scheduled for next week to chart the way forward for
operations of the first commodity market in the country which is
expected to begin with sesame oil.
“Meeting key stakeholders in the sesame
production is important in charting the best way for smooth business
operations,” he said in a telephone interview from Dodoma. He said an
official date for starting TMX operations will be set by the government
after the meeting with key stakeholders in the sesame production.
Mr Malekano said the harvest seasons
have commenced in Mtwara, Lindi and Morogoro regions and will be
followed by Ruvuma, Coast, Tanga, Rukwa and Mbeya. TMX is a
multi-commodity exchange that would create orderly, transparent and
ready market for agricultural commodities and precious metals, as well
as improved agricultural production that would help create more
opportunities for investment in the country’s economy.
A team of experts have been dispatched
to major cotton-growing areas in the country to assess the feasibility
for smooth implementation of the exchange where contract farming and
warehouse receipt system are practiced.
Similarly in the cashew nut producing
regions, an assessment will be carried to smooth operations of the
mercantile market to benefit farmers in terms of better prices.
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