Ghana Commodity Exchange reports 45% drop in 2023 trade
The Ghana Commodity Exchange (GCX) has reported a sharp drop in trading activity for 2023, with the total trade value plummeting to GH₵11.3 million, a 45% decrease from GH₵20.7 million in 2022. This reduction, highlighted in the 2023 Financial Stability Review, underscores the economic and environmental challenges impacting Ghana’s agricultural sector. GCX’s trading portfolio, which includes commodities like maize, soybeans, sorghum, sesame, rice, and cashews, faced significant headwinds from macroeconomic instability and adverse climate conditions, both of which affected pricing and market performance. Contracts traded on GCX also saw a notable decline, with only 2,206 contracts executed in 2023—a 36%...
