Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets
This study examines the landscape in which Malawi’s two agricultural commodity exchanges (Comex) and warehouse receipts systems (WRS) operate and makes recommendations on how to improve their performance and benefits to key stakeholders. A mixed methods approach was adopted, involving semi-structure...
| Autores principales: | , , , |
|---|---|
| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2018
|
| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/146606 |
| _version_ | 1855513744825647104 |
|---|---|
| author | Baulch, Bob Gross, Adam Nkhoma, Justice Chimgonda Mtemwa, Chikumbutso |
| author_browse | Baulch, Bob Gross, Adam Mtemwa, Chikumbutso Nkhoma, Justice Chimgonda |
| author_facet | Baulch, Bob Gross, Adam Nkhoma, Justice Chimgonda Mtemwa, Chikumbutso |
| author_sort | Baulch, Bob |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This study examines the landscape in which Malawi’s two agricultural commodity exchanges (Comex) and warehouse receipts systems (WRS) operate and makes recommendations on how to improve their performance and benefits to key stakeholders. A mixed methods approach was adopted, involving semi-structured interviews with key market participants, compilation and analysis of secondary data from Malawi and other African Comex, and a review of existing literature. A review of international experience indicates that historically Comex often develop hand-in-hand with warehouse receipt systems (WRS), which help stimulate demand from off takers for standardized contracts while providing financing that increased volumes traded. In recent years, electronic trading platforms have given an impetus to the consolidation of existing Comex, and the development of regional networks of exchanges and warehousing arrangements. Nonetheless, a common reason why Comex fail is that they do no attract sufficient trading volumes to pay for their operating costs. This is often associated with default on contracts and fears of the market for commodities being cornered by a few larger traders. Of the 23 Comex in Africa, over half are still in their planning or inception stages and, with the notable exception of the agricultural futures and options traded on the Johannesburg Stock Exchange, most of the remaining Comex are thinly traded and receive financial support from government and/or donors. |
| format | Artículo preliminar |
| id | CGSpace146606 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1466062025-11-06T05:04:46Z Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets Baulch, Bob Gross, Adam Nkhoma, Justice Chimgonda Mtemwa, Chikumbutso storehouses agricultural policies markets commodity markets This study examines the landscape in which Malawi’s two agricultural commodity exchanges (Comex) and warehouse receipts systems (WRS) operate and makes recommendations on how to improve their performance and benefits to key stakeholders. A mixed methods approach was adopted, involving semi-structured interviews with key market participants, compilation and analysis of secondary data from Malawi and other African Comex, and a review of existing literature. A review of international experience indicates that historically Comex often develop hand-in-hand with warehouse receipt systems (WRS), which help stimulate demand from off takers for standardized contracts while providing financing that increased volumes traded. In recent years, electronic trading platforms have given an impetus to the consolidation of existing Comex, and the development of regional networks of exchanges and warehousing arrangements. Nonetheless, a common reason why Comex fail is that they do no attract sufficient trading volumes to pay for their operating costs. This is often associated with default on contracts and fears of the market for commodities being cornered by a few larger traders. Of the 23 Comex in Africa, over half are still in their planning or inception stages and, with the notable exception of the agricultural futures and options traded on the Johannesburg Stock Exchange, most of the remaining Comex are thinly traded and receive financial support from government and/or donors. 2018-11-08 2024-06-21T09:07:44Z 2024-06-21T09:07:44Z Working Paper https://hdl.handle.net/10568/146606 en https://doi.org/10.2499/p15738coll2.133159 Open Access application/pdf International Food Policy Research Institute Baulch, Bob; Gross, Adam; Nkhoma, Justice Chimgonda; and Mtemwa, Chikumbutso. 2018. Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets. MaSSP Working Paper 24. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/146606 |
| spellingShingle | storehouses agricultural policies markets commodity markets Baulch, Bob Gross, Adam Nkhoma, Justice Chimgonda Mtemwa, Chikumbutso Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title | Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title_full | Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title_fullStr | Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title_full_unstemmed | Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title_short | Commodity exchanges and warehouse receipts in Malawi: Current status and their implications for the development of structured markets |
| title_sort | commodity exchanges and warehouse receipts in malawi current status and their implications for the development of structured markets |
| topic | storehouses agricultural policies markets commodity markets |
| url | https://hdl.handle.net/10568/146606 |
| work_keys_str_mv | AT baulchbob commodityexchangesandwarehousereceiptsinmalawicurrentstatusandtheirimplicationsforthedevelopmentofstructuredmarkets AT grossadam commodityexchangesandwarehousereceiptsinmalawicurrentstatusandtheirimplicationsforthedevelopmentofstructuredmarkets AT nkhomajusticechimgonda commodityexchangesandwarehousereceiptsinmalawicurrentstatusandtheirimplicationsforthedevelopmentofstructuredmarkets AT mtemwachikumbutso commodityexchangesandwarehousereceiptsinmalawicurrentstatusandtheirimplicationsforthedevelopmentofstructuredmarkets |