Tanzania Commodity Exchange (TCX) is set to make Tanzania a hub for commodity trading in East African region that will involve setting up exchange associations and fostering relationships with International agencies.
Commodity Exchanges integrates functioning of several key components of agriculture trade namely farmers, traders to services like Warehouse and Warehouse receipt system. It brings in standardization of quality and allows people to trade using efficient banking channels making transactions more transparent and fast for the participants.
The TCX Chief Executive Officer and Managing Director, Mr John Chaggama said TCX has been set up as a vehicle to facilitate market exchange and enhance the price discovery process, thus making farmers earn premium prices that reflect true market value for their products. Read more. Source | Daily News