Nigeria to get $135m agricultural commodity exchange
The exchange, called Integrated Produce City, will be located near the southern city of Benin. The project will have storage facilities, including refrigerated warehouses, and will host processing plants, once completed by the end of 2018.
Among products to be traded on the exchange are cashew nuts, fresh fruit and vegetables, grains and tubers such as cassava and yams among others.
Utomi who is the Chief Executive Officer of the Integrated Produce City, said “The concept of a wholesale-produce market is to enable the farmer to fully dispose of his produce, instead of today where he loses 80 percent of his output that rots before it can reach the market. It will be an export hub for produce where exporters will have access to large quantities stored in one place rather than sending agents to individual farmers to collect small amounts.”
source: ecofinagency.com
