Why are African commodity exchanges languishing? A case study of the Zambian Agricultural Commodity Exchange |
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| Authors: | Nicholas J Sitko TS Jayne |
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| Institution: | 1. Indaba Agricultural Policy Research Institute, PostNet Box 99, Kabulonga, Lusaka, Zambia;2. Department of Agricultural Economics, Michigan State University, East Lansing, MI 48824, USA |
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| Abstract: | Food price volatility and high transactions costs remain major problems in African food markets. These persistent problems provide a strong theoretical justification for the development of commodity exchanges. However, the majority of African commodity exchanges remain underdeveloped. Through a case study of the Zambian Agricultural Commodity Exchange (ZAMACE), this article explores why agricultural commodity exchanges in the region have thus far failed to develop into sustainable trading platforms and identifies the most important changes needed to enhance their performance. |
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| Keywords: | Commodity exchanges Agricultural markets Structured trading Transaction costs Sub-Saharan Africa |
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