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Agricultural Commodity Exchanges and the Development of Grain Markets and Trade in Africa: A Review of Recent Experience

Author

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  • Jayne, T.S.
  • Sturgess, Chris
  • Kopicki, Ron
  • Sitko, Nicholas

Abstract

Vibrant agricultural commodity exchanges will greatly enhance the performance of Africa’s agricultural sectors and contribute to overall economic development. Yet specific conditions in grain markets are required for agricultural commodity exchanges to develop.1 The absence or short-lived nature of many of these conditions explains why commodity exchanges for staple grains have remained stunted in Sub-Saharan Africa despite strong interest in their development by the international donor community and by most elements of the private sector. This study identifies these preconditions and assesses the scope for development organizations to support the sustainable development of commodity exchanges in eastern and southern Africa.

Suggested Citation

  • Jayne, T.S. & Sturgess, Chris & Kopicki, Ron & Sitko, Nicholas, 2014. "Agricultural Commodity Exchanges and the Development of Grain Markets and Trade in Africa: A Review of Recent Experience," Food Security Collaborative Working Papers 188568, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    • Handle: RePEc:ags:midcwp:188568
    DOI: 10.22004/ag.econ.188568
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    References listed on IDEAS

    as
    1. Philip Garcia, 2004. "A selected review of agricultural commodity futures and options markets," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 31(3), pages 235-272, September.
    2. Sitko, Nicholas J. & Jayne, T.S., 2012. "Why are African commodity exchanges languishing? A case study of the Zambian Agricultural Commodity Exchange," Food Policy, Elsevier, vol. 37(3), pages 275-282.
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    Cited by:

    1. Briones, Roehlano M. & Tolin, Lovely Ann C., 2016. "Warehouse Receipts as a System for Improving the Efficiency of Rice and Corn Marketing in the Philippines," Discussion Papers DP 2016-45, Philippine Institute for Development Studies.
    2. Fekadu Gelaw & Stijn Speelman & Guido Huylenbroeck, 2017. "Impacts of Institutional Intervention on Price Transmissions: The Case of the Ethiopian Commodity Exchange," Review of Development Economics, Wiley Blackwell, vol. 21(4), pages 88-106, November.
    3. Harini & Yunastiti Purwaningsih & Emi Widiyanti & Malik Cahyadin, 2017. "Trading system of food commodity," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 9(2), pages 172-180, April.
    4. Nyarko, Yaw & Pellegrina, Heitor S., 2022. "From bilateral trade to centralized markets: A search model for commodity exchanges in Africa," Journal of Development Economics, Elsevier, vol. 157(C).
    5. Liesbeth Dries & Domenico Dentoni, 2015. "Private sector investments to create market-supporting institutions: The case of Malawian Agricultural Commodity Exchange," Working Papers 2015/08, Maastricht School of Management.
    6. Roche, Julian Spencer, 2020. "Success criteria for commodity exchanges," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 15(2), June.

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    Keywords

    Agricultural and Food Policy; Marketing;

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