MEMBER CIRCULAR 26.07.2013
I trust you are all in good health, welcome again to our weekly circular summarising all communications the exchange would like to make with its members and clients alike. Let me take this opportunity to thank you all that supported us in last weeks event, in our interactions we shared a few “bits & buts” on how to improve trades on the exchange, be assured that these are being taken into consideration as always your input is valuable to us.
In our quest to increase our commodity handling capacity as well as reach out closer to a smallholder farmer/trader the Collateral team would like to announce the opening of Mzuzu Warehouse located at Mzuzu ADMARC compound last shed. AHCX has also secured a warehouse in Luncheza covering over 5000 Square foot to be opened in August 2013 and efforts are ongoing to secure another warehouse in Mchinji district. For Business reasons AHCX will not open Bangula Nsanje Warehouse during this season, but are on course to secure 15 sites by end of the year 2013 and a total of 20 sites by year end 2014.
AHCx was proud to announce the largest one day trade yet on Tuesday the 23rd July of over 70 lots of Soyabeans worth more than K32 Million kwacha [See Article]
Indicative price trend filters for week starting 30th July.
Soya Beans (140 – 170)
Maize (110 – 135)
Pigeon Peas ( 120 – 135)
Gnuts (250 – 280)
Sugar Beans Kholopethe (290 – 320)
AHCX website is up and running with more up to date information, a list of AHCX members has been uploaded with contact details, for those wishing to link their member name to a profile page can do so by sending their profile or web link to me. Profiles with a Logo or Picture of owner of company are encouraged.
Latest AHCX news/ Trade filters/Member circulars/Awareness campaigns will be posted on the web, please browse through our web content and do not hesitate to contact us for any help or comments.
As a reminder you may have already received communication in regards to need for adherance to membership payment plans. we do hope members under such arrangements will continue to do so.
Warehouse Receipt Financing
All members are reminded of the MOU that took effect last Tuesday, FDH and MSB have put aside substantial amount of money for Warehouse receipt financing at discounted interest rate. You are encouraged to talk to the banks for these prospects as well as to your respective clients who may wish to access finance if their price is not right today.