Market Price As At 22nd June 2022
  • White Maize Grade-1 N165,000

NCX Engages FCT Farmers, Traders on Commodity Trading

Over 100 farmers, traders, agro-processors and other market actors in the Federal Capital Territory (FCT) yesterday underwent training on commodity trading and warehouse management.

The training, organised by the Nigerian Commodity Exchange (NCX) in partnership with Rubytone global Service, was aimed at exposing the participants to ways they can trade on the NCX platform across the country.

City News reports that NCX is a federal government agency with the purpose of managing the effects of price fluctuation in the marketing of agricultural produce with a view to moderate the adverse implications on the revenue of farmers.

Speaking at the event, the Managing Director (MD) of NCX, Mrs Zaheera Baba-Ari, said the training would enable the participants to know the benefits of trading on the NCX platform and expose them to the new system of marketing their products in line with best international standards.

Mrs Baba-Ari who was represented by NCX General Manager (GM), Operations, Benson Lawal, said NCX would continue to work in line with the directives of President Muhammadu Buhari to regulate the prices of commodities, adding that farmers and other agro processors were crucial to realising such objective.

She said, “The era of waste as a result of glut of most agricultural produce is gone internationally, hence Nigerian farmers and agro traders should cue in by embracing the trading floor of NCX as we can help them store their produce safely in our warehouses up till when their prices appreciate in the market. This will enable them to reap maximally from their sweat.’’

One of the participants, Yakubu Dorcas Sekyen, who noted that the training was timely, said it had exposed them to modern ways of trading, and called on NCX to make it periodical.

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