Côte d’Ivoire has launched its first agricultural commodities exchange, Bourse des Matières Premières Agricoles (BMPA CI). The exchange was officially launched in Abidjan on 28 May and began trading on 30 May.
The new exchange has taken seven years to develop with the aim of bringing transparency, structure, and improved incomes to the farmers and agricultural producers of the West African region. The first three products are raw cashew nuts, cola nuts, and maize but other regional commodities could be added soon. It replaces direct trading between buyers and sellers.
Africa’s pioneering regional exchange Bourse Régionale des Valeurs Mobilières (BRVM), which draws together the eight countries of the West African Economic and Monetary Union (WAEMU/ UEMOA) has been supporting the development of the new commodity exchange.
Edoh Kossi Amenounve, Director General of the BRVM, said: “The first transactions that took place on the BMPA CI and the success of this first day of trading suggest a bright future for this exchange, which, in the very near future, I am convinced, will rise to the top five of commodities exchanges in Africa.”
According to this news report on RFI: “The exchange’s symbolic launch was swift and promising: in just 10 minutes, 89 tonnes of goods were traded, valued at nearly 31 million CFA francs” ($53,970).
Quality assured through certified warehouses
The BMPA replaces informal trading practices with a regulated platform that provides real-time information on supply and demand and makes prices transparent.
According to RFI, Côte d’Ivoire is the world’s top producer of both raw cashews and cola nuts, producing over 1 million tonnes of cashews and 250,000 tonnes of cola nuts every year. Maize is central in domestic food security.
Farmers deliver their crops to approved warehouses near production areas and receive warehouse receipts, which serve as transaction documents on the exchange. Raoul-Alex Zouzou, head of African Commodities Brokerage House (ACBH), told RFI: “With this receipt, producers will come and meet brokers to sell their produce online. From the exchange platform, the broker – who is also in contact with manufacturers, processors and exporters – will offer these products to buyers.”
According to this report on African Markets: “The exchange operates through a modern, digital platform that ensures secure, transparent transactions and guarantees product quality, thanks to certified warehouses in Korhogo and Bouaké. It brings together farmers, investors, financial institutions, and licensed brokers in an inclusive ecosystem.
“For farmers, this means fairer prices and better visibility on the value of their harvests. For investors, it opens the door to a new asset class tied to real agricultural production in West Africa. And for the region, it sets a precedent: a replicable model that combines technology, governance, and economic opportunity.”
This system aims to stabilise seasonal supply fluctuations, especially in crops like cashews.
Trading sessions are: Mon-Fri from 10 am to midday GMT. Price changes per session are limited at 10%-15% to safeguard against market volatility.
The Warehouse Receipt Regulatory Authority (Autorité de Régulation du Système de Récépissés d’Entreposage, ARRE) supervises the certified warehouses with a total storage capacity of 500,000 tonnes. The National Investment Bank (BNI Finances) manages the financial transactions, under an affiliated Agricultural Settlement Bank.
Three brokers
There are three brokerage houses: African Commodities Brokerage House, West African Commodities Market, and Raw Material Trading. The BRVM reported that, within a few minutes of the launch, 48 tonnes of cashew nuts, 1 ton of cola nuts and 40 tons of maize, for a value of XOF 30.8m. Transactions are conducted in standardized spot contracts. The warehouse system guarantees the quality of the agricultural products in terms of grade, dryness and calibration.
Market participants include agricultural commodity producers, agricultural cooperatives and other organizations, and industrial producers of agricultural products. Market intermediaries are dealers, derivative traders, speculators, local and international buyers and exporters.
Africa currently has 15 commodity exchanges with the largest in South Africa. There are some 125 commodity exchanges around the world.
The commodity exchange was flagged in the BRVM’s roadshows in May 2024, see our story.
Photo: Taken from the African Markets website.