Why are African commodity exchanges languishing? A case study of the Zambian Agricultural Commodity Exchange
AbstractFood 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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Bibliographic InfoArticle provided by Elsevier in its journal Food Policy.
Volume (Year): 37 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/foodpol
Commodity exchanges; Agricultural markets; Structured trading; Transaction costs; Sub-Saharan Africa;
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