STAKEHOLDERS attending a commodity buyers breakfast meeting in Harare yesterday urged the Zimbabwe Mercantile Exchange (ZMX) to include by-products from listed commodities in warehouse receipting and on spot trading.
The call comes amid growing concerns that companies are exporting by-products in their time of glut production yet the country ends up importing them after running out of stock feeds.
Stockfeed Manufacturers Association of Zimbabwe executive administrator, Dr Reneth Mano said the ZMX trading platform had come at an opportune time when more products, among them wheat, are being incorporated into the trading platform.
Grain millers end up with stockpiles of maize and wheat bran from their meal and flour processing operations. Their immediate desire is to get rid of these products from their store houses to avoid storage costs.
“They do so by selling them to stockfeed manufacturers. A glut in supply of the by-products strains manufacturers’ budgets, as they do not have capital to procure their annual requirements within a week or month’s time,” said Dr Mano.