Uganda Commodity Exchange

The Uganda Commodity Exchange was established in the year 1998. The exchange carries out its commodity futures trading and commodity options trading transactions on the basis of an open and free market system. The exchange also facilitates the procurement system of standardized commodities by identifying warehouses.
Uganda Commodity Exchange came into existence in the year 1998. This exchange was established with the aim of generating an integrated commodity trading market.

The exchange also tried to facilitate the procurement of commodities in order to help the buyers and sellers of the country.

Organization and Operations of Uganda Commodity Exchange
Not only the regional buyers and sellers, but also international producers and consumers participate in the commodity trading activities of Uganda Commodity Exchange. The exchange carries out its commodity futures trading and commodity options trading transactions on the basis of an open and free market system. This exchange is governed by Board of Directors. But, the day to day trading activities of the Uganda Commodity Exchange are managed by professional managers.
The key shareholders of Uganda Commodity Exchange are Uganda Farmers Federation, Uganda Cooperative Alliance, Commercial Farmers Association and Uganda Coffee Trade Federation.
Functions of Uganda Commodity Exchange
In the Uganda Commodity Exchange, commodity trading activities take place twice in every week. The dates of commodity trading transactions, are announced by the exchange in advance through its’ website. The exchange itself determines its’ commodity trading procedures.
The exchange identifies and operates warehouses, which stores standardized commodities.
The Uganda Commodity Exchange recruits brokers who involve in commodity trading of agricultural products. Commodity Traders get benefited by the market knowledge and professional expertise of these commodity brokers.
Along with UNBS(Uganda National Bureau of Standards), the Uganda Commodity Exchange determines the Agricultural Commodity Standards for Uganda.
The exchange works as a linkage between the regional and international buyers and sellers.
Through the publications of this exchange, the commodity traders get informed about the trends in commodity prices.

 

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Last Updated on : 27th June 2013

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