Sat, 27 May 2017 11:09:46 +0000 By BUUMBA CHIMBULU ELEVEN warehouse receipts with the total quantity of 10,000 tonnes of maize grain worth US$2.6 million from the Lusaka certified storage site have been issued by the Zambia Agriculture Commodity Exchange (ZAMACE). And ZAMACE has certified five warehouse operators with a total storage capacity of 425,000 tonnes for the warehouse receipt system. ZAMACE executive director, Jacob Mwale, explained that the transaction involved maize grains sitting on a warehouse receipts being used as collateral to access inputs such as seeds, fertilizer and chemicals. “As you may be aware ZAMACE guarantees both delivery of quantity and quality grains on one side of the transaction and cash settlement on the other side of the transaction. “This is now a fully-fledged facility that can be used by those holding a warehouse receipt to access a number of goods and services while they wait to sell their crops,” he said. Mr […]
